CCP Approves Share Acquisition in IMS Electric

The Competition Commission of Pakistan (CCP) has sanctioned the procurement of shares in IMS Electric (Private) Limited via a share purchase agreement, the CCP announced on Thursday.

Danish Ghous and Syed Jawad Bin Saghir will be acquiring the shares from the existing stakeholders: Ms. Anila Haq, Mr. Faizan Ul Haq, and Ms. Tooba Haq.

During its initial assessment, the CCP defined the relevant market as “Switchgears and Transformers”.

Two Firms Penalized for Anti-Competitive Practices

In a separate case, two companies were previously penalized for engaging in anti-competitive behavior valued at Rs1.13 billion within the pharmaceutical industry.

The CCP stated, “The commission determined that the proposed transaction is unlikely to diminish market competition substantially, nor will it establish or reinforce a dominant market position.”

IMS Electric (Private) Limited, previously known as Schneider Electric Pakistan, is involved in the manufacturing and distribution of switchgears and distribution boards, along with trading in transformers. The company also offers electrical erection and installation services.