The Competition Commission of Pakistan (Competition Commission of Pakistan) has approved the acquisition of majority shareholding in Ranipur Sugar Mills Private Limited by Saakh Pharma Limited and United Ethanol Industries Limited under a Phase I review.

The approved transaction involves the takeover of a company engaged in sugar manufacturing, byproducts production, and power generation through its in-house facility.

According to the Commission, the merger has been classified as a conglomerate transaction, as the acquiring companies operate primarily in pharmaceuticals, biological products, ethanol, and industrial agribusiness, with limited overlap in core business activities.

After reviewing the transaction, the regulator concluded the acquisition is unlikely to create a dominant market position or significantly reduce competition in the sector.

The Commission noted that Ranipur Sugar Mills has a relatively limited market presence and the deal does not create supply dependencies or raise anti-competitive concerns.

During the review, the CCP also observed that the transaction had already been completed before regulatory approval was obtained, despite pre-merger approval being a legal requirement.

The acquiring parties have submitted an undertaking to ensure compliance with merger regulations in future, the Commission said.

Based on its assessment, the regulator approved the transaction under applicable competition laws.