The Competition Commission of Pakistan (CCP) has granted approval for a merger within the thermal power sector. The sanctioned transaction involves M/s. Whistler Enterprises (Private) Limited (WEL) acquiring a 20.97% stake in M/s. Orient Power Company (Private) Limited (OPCOL).
WEL, a newly established private limited company in Pakistan, specializes in power generation businesses and related services. On the other hand, OPCOL is an independent power producer operating a 225-MW power plant in Balloki, Kasur.
The acquisition is from M/s. Mahmood Textile Mills Limited and Khawaja Mehr Ali, facilitated by a Share Purchase Agreement. CCP’s Phase I assessment identified ‘Power Generation – Thermal’ as the relevant market, noting that OPCOL’s market share in thermal power generation remains below 1%, unaffected by the merger.
As the transaction does not result in WEL’s dominance in the market, CCP authorized the merger under Section 31 of the Competition Act, 2010.
This approval signifies investor confidence in Pakistan’s power sector and emphasizes competition’s role in driving industry efficiency and innovation. CCP’s commitment to promoting competition while fostering growth and efficiency in Pakistan’s power sector is evident through this decision.
