The Competition Commission of Pakistan (CCP) has approved the acquisition of First Women Bank Limited by Abu Dhabi–based Eve Holdings RSC Limited, following a Phase I review under the Competition Act, 2010.

The transaction, executed through a Share Purchase Agreement as part of the government’s privatization drive, involves the transfer of the bank’s entire shareholding from the Government of Pakistan and institutional investors to Eve Holdings. Existing shareholders include Habib Bank Limited, MCB Bank Limited, Allied Bank Limited, National Bank of Pakistan, and United Bank Limited.

Eve Holdings, a special purpose holding company incorporated in Abu Dhabi, does not have operations in Pakistan’s banking sector. The Commission noted that First Women Bank has a limited market presence, and the deal therefore constitutes a conglomerate merger with no competition concerns.

The CCP concluded that the acquisition will not create or strengthen a dominant position or reduce competition in the banking market, and has authorized the transaction accordingly.