CCP clears transaction: UAE firm to acquire stakes in MTML from Chinese investors

The Competition Commission of Pakistan (CCP) has cleared a transaction involving UAE-based Velora Global Ventures-F.Z.C. acquiring stakes in Pakistan's listed textile manufacturer Masood Textile Mills Limited (MTML) from two Chinese investors. The acquisition, involving shares held by Shanghai Challenge Textile Company Limited and Zhejiang Xinao Industry Company Limited, was cleared at the Phase-I stage.

Velora Global Ventures, incorporated in June 2025, specializes in wholesale trading of textiles and clothing and commercial brokerage activities outside Pakistan. The CCP determined that the transaction would not materially change MTML's output, domestic sales, or market position. The acquisition was found not to pose competition concerns due to Velora's lack of market presence in Pakistan prior to the transaction and the nature of their respective activities.

The CCP's assessment was limited to competition review under Section 11 of the Competition Act, 2010, while matters outside its jurisdiction remained subject to applicable laws and oversight of relevant regulatory bodies.

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