The Competition Commission of Pakistan (CCP) has granted approval for the acquisition of a majority stake in Ranipur Sugar Mills Private Limited by Saakh Pharma Limited and United Ethanol Industries Limited following a Phase-I merger review.

Ranipur Sugar Mills operates in sugar production and also generates revenue through related by-products and in-house power generation. The acquiring companies belong to different sectors: Saakh Pharma is a publicly listed firm involved in pharmaceutical and biological products, while United Ethanol Industries is engaged in ethanol manufacturing and industrial agribusiness operations.

During the assessment, the CCP noted that the transaction had already been executed before obtaining regulatory clearance. The Commission reiterated that pre-merger approval is a mandatory legal obligation under competition laws and must be secured prior to completing such transactions. The acquiring firms have since provided formal assurances to ensure compliance with regulatory requirements in future deals.

From a competition perspective, the regulator classified the transaction as a conglomerate merger, highlighting the absence of significant overlap between the parties’ core businesses and only minimal vertical linkage.

The Commission further observed that Ranipur Sugar Mills holds a relatively small footprint in the sugar market, meaning the acquisition is unlikely to create supply concentration or market distortions.

After completing its review, the CCP concluded that the deal neither establishes market dominance nor materially restricts competition, clearing the acquisition under applicable competition regulations.