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ISLAMABAD, Aug 21 (APP):The Competition Commission of Pakistan (CCP) has approved the merger of HA Fibres (Private) Limited (HAFL) with and into Husnain Textile Mills (Private) Limited (HTML).
The transaction involves the amalgamation of HAFL with and into HTML, with both undertakings being private limited companies incorporated in Pakistan, said a press release issued here on Thursday.
Husnain Textile Mills, incorporated in 2004, is engaged in the manufacturing and sale of yarn. Similarly, HAFL, incorporated in 2006, operates in the same line of business. Both entities are active in the textile sector, specifically within the yarn production segment.
The Commission, in its review of the proposed transaction, identified the relevant market as “Yarn – Cotton Polyester” within Pakistan.
Upon evaluation, the Commission concluded that the transaction does not result in a substantial lessening of competition.
The parties’ combined market share remains limited, and the merger neither creates nor strengthens a dominant position in the relevant market. Moreover, the transaction does not give rise to any significant entry barriers.
Accordingly, the CCP has authorized the proposed merger under Section 31 of the Competition Act, 2010.