ISLAMABAD, Feb 23 (APP): The Competition Commission of Pakistan (CCP) on Monday approved the proposed acquisition of First Women Bank Limited (FWBL) by Abu Dhabi-based Eve Holdings RSC Limited, following a Phase-I competition assessment conducted under the Competition Act, 2010.
The approval comes pursuant to a Share Purchase Agreement executed as part of the federal government’s privatization process, a news release said.
Eve Holdings RSC Limited, a special purpose holding company incorporated in Abu Dhabi, would acquire 100 percent shareholding of First Women Bank Limited from the government of Pakistan and existing institutional shareholders. These include Habib Bank Limited, MCB Bank Limited, Allied Bank Limited, National Bank of Pakistan and United Bank Limited.
Upon completion of the transaction, Eve Holdings would assume full ownership and control of First Women Bank Limited.
In its competition assessment, the CCP noted that FWBL maintained a limited footprint within the broader commercial banking market. The acquiring entity currently has no presence in the relevant or related market in Pakistan. As such, the transaction qualifies as a conglomerate merger and does not raise competition concerns.
The commission concluded that the proposed acquisition is unlikely to create or strengthen a dominant position, substantially lessen competition, or adversely affect the competitive structure of the market.
Accordingly, the transaction has been authorized in accordance with the provisions of the Competition Act, 2010.
The acquisition reflected sustained foreign investor interest in Pakistan’s financial sector and highlighted the role of transparent privatization and effective competition oversight in attracting foreign direct investment, strengthening financial institutions and supporting long-term economic growth.
CCP approves acquisition of FWBL by Abu Dhabi’s eve holdings
