CCP Allowed Lucky Cement to get 67% Stake in National Resources.
Big Move in Balochistan Mining! CCP Greenlights Major Takeover
The Competition Commission of Pakistan (CCP) has approved a significant shake-up in the Balochistan mining scene, greenlighting the takeover of a major player. Here’s what you need to know:
- Lucky Cement and Fatima Fertilizer have acquired a combined 66.66% stake in National Resources (Private) Limited.
- National Resources primarily focuses on exploring and developing mineral resources in Balochistan.
- This deal marks a major consolidation in the sector, potentially impacting future mining operations in the region.
Pakistan Boosts Balochistan Mining with Major Investment
Key Points:
- Competition Commission of Pakistan (CCP) approves Lucky Cement and Fatima Fertilizer’s acquisition of National Resources.
- Combined 66.66% stake expected to boost mineral exploration in Balochistan.
- Cement and fertilizer giants diversify portfolios with entry into mining sector.
Details:
- CCP spokesperson sees the deal as a positive step for mineral exploration in the region.
- Each company acquired 33.33% shares, bringing their combined ownership to 66.66%.
- Lucky Cement, a public cement manufacturer, and Fatima Fertilizer, a public fertilizer producer, entered the mining sector through this acquisition.
The Competition Commission of Pakistan (CCP) greenlit the acquisition of a major mining firm in Balochistan, citing two key points:
Antitrust Concerns Addressed:
- CCP approved the deal after determining that Lucky Cement and Fatima Fertilizer wouldn’t dominate the relevant market following the acquisition.
Potential Economic Benefits:
- The spokesperson highlighted the companies’ interest in mining as a positive sign for diversification and growth.
- The statement also mentioned potential for “unlocking new opportunities and driving innovation” in the sector.
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