The (CCP) has approved the acquisition of PCRCL shares by United Ethanol Industries Limited. This decision follows a Phase-I competition assessment under the 2010 Act.
PCRCL is a restructuring company licensed by SECP to manage Non-Performing Assets and distressed businesses. United Ethanol Industries, a public limited company, produces ethanol and related industrial products.
The transaction involves acquiring PCRCL shares from eight commercial banks: United Bank Limited, MCB Bank Limited, Allied Bank Limited, Meezan Bank Limited, Habib Metropolitan Bank Limited, Habib Bank Limited, Bank AL Habib Limited, and Bank Alfalah Limited.
The CCP assessed the competitive effects in the market for NPA resolution and restructuring advisory services. The Commission concluded that the merger does not lessen competition or create barriers to entry, thus authorizing the transaction under Section 31 of the Act.