Competition Commission of Pakistan okays Coca-Cola Pakistan acquisition

ISLAMABAD: The Competition Commission of Pakistan (CCP) has granted approval for the acquisition of Coca-Cola (Pakistan) under the phase-1 review of the Competition Act, 2010, and the Competition (Merger Control) Regulations, 2016.

Coca-Cola Içecek (Turkiye) acquired a 49.67 per cent shareholding of Coca-Cola (Pakistan) through CCI International Holand (one of its subsidiaries) from Atlantic Industries. The transaction involves a total consideration of $300 million.

After this transaction, Coca-Cola Turkiye will own the majority of the shareholding in Coca-Cola (Pakistan) and take over its management.

This marks a significant vote of confidence in the Pakistani economy, demonstrating its great potential for above-average returns on capital for international investors. The chairman and the mergers team have streamlined the merger system and process to expedite merger and acquisition applications to facilitate international investors.