ISLAMABAD: The Competition Commission of Pakistan (CCP) has granted approval for International Electric Power (Pvt) Ltd (IEPWR) to acquire 11.9% of the paid-up ordinary share capital of Sindh Engro Coal Mining Company (SECMC) Ltd under a Share Purchase Agreement (SPA).
IEPWR, formed in March specifically for this transaction, is jointly owned by Liberty Power Holding, Soorty Enterprises, and Procon Engineering. SECMC is a prominent player in Pakistan’s coal mining sector, while the seller, Engro Energy Ltd, is a key subsidiary of Engro Corporation focusing on energy investments.
The CCP’s competition assessment identified ‘coal mining’ in Pakistan as the relevant market, noting that SECMC’s market share will remain unchanged post-acquisition.
