The Competition Commission of Pakistan (CCP) on Tuesday cleared state-run Qatar Energy’s bid to acquire 49 per cent stakes in an upcoming private sector LNG terminal, paving the way for Qatar’s first direct investment in Pakistan’s energy market.
“The proposed transaction is hereby authorized,” said the country’s competition regulator in an order issued here saying the proposed transaction did not meet the presumption of dominance in the market because the target entity’s — Energas Terminal — share in the market would be no more than 33 percent.
The Qatari firm had filed a pre-merger application before the CCP for proposed acquisition of 49pc shareholding of Energas under section 11 of the Competition Act 2010 read with regulation 6 of Competition (Merger Control) Regulations 2016.
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