The Competition Commission of Pakistan (CCP) has approved Treet Corporation Limited’s proposal to increase its shareholding in Loads Limited through a rights issue, ruling that the transaction will not harm competition in the market.
Treet had sought approval under the Competition Act, 2010 to subscribe to additional ordinary shares being offered by Loads as part of its rights issue.
Following a Phase I merger review, the CCP identified the relevant markets as exhaust systems, radiators, and metal sheet components in Pakistan. The regulator noted that Treet and Loads are already associated companies with common management representation.
The commission concluded that the transaction is a capital investment between affiliated companies and will not alter their market shares or reduce competition. It also determined that the deal would neither create barriers for new entrants nor strengthen a dominant market position.
Accordingly, the CCP approved the transaction, stating that the proposed increase in Treet’s shareholding is unlikely to substantially lessen competition in the relevant markets.
Treet Corporation is a publicly listed company known for manufacturing razors and razor blades, while its subsidiaries operate in batteries, corrugated packaging, soaps, medicinal concentrates, electric bikes, rickshaws, and workforce solutions. Loads Limited, also listed on the stock exchange, manufactures radiators, exhaust systems, and metal sheet components for Pakistan’s automotive sector.
