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

Coca-Cola Içecek (Turkey) acquired a 49.67 percent 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 Turkey will own the majority of shareholding in Coca-Cola (Pakistan) with management. This is a significant vote of confidence that the Pakistani economy has great potential for above-average returns on their capital for international investors, said the statement issued by the CCP.

The Chairman and Mergers team has streamlined, the merger system and process to expedite mergers/acquisitions applications to facilitate international investors.

Source: Pro Pakistani