The Competition Commission of Pakistan (CCP) has given its approval for the acquisition of Coca-Cola (Pakistan) under phase-1 review of the Competition Act, 2010, and the Competition (Merger Control) Regulations, 2016.
Coca-Cola İçecek (Turkey) acquired a 49.67 percent shareholding of Coca-Cola (Pakistan) through CCI International Holand (one of its subsidiaries) from Atlantic Industries. The deal is worth a total consideration of $300 million.
After this transaction, Coca-Cola Turkey will hold the majority of shareholding in Coca-Cola (Pakistan) and will be involved in its management. This acquisition reflects a significant vote of confidence in the Pakistani economy’s potential to provide international investors with above-average returns on their capital, as stated in the CCP’s press release.
The Chairman and Mergers team have worked on streamlining the merger system and process to expedite merger and acquisition applications and facilitate international investors.