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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