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

The Competition Commission of Pakistan (CCP) has approved a transaction allowing UAE-based Velora Global Ventures-F.Z.C. to acquire shares in Pakistan's textile manufacturer, Masood Textile Mills Limited (MTML), from Chinese investors. The phase-one approval, as reported by Business Recorder, involves the purchase of shares owned by Shanghai Challenge Textile Company Limited and Zhejiang Xinao Industry Company Limited, both based in China.

Velora Global Ventures, registered in June 2025, specializes in wholesale textile trading and brokerage activities outside Pakistan. The CCP's assessment determined that the acquisition would not significantly impact MTML's output, domestic sales, or market position, as Velora had no prior presence in the Pakistani market. The commission also found no evidence of a vertical relationship between Velora's international trading activities and MTML's manufacturing operations, concluding that the transaction would not undermine competition.

The acquisition, authorized under Section 31(1)(d)(i) of the Competition Act, 2010, was deemed unlikely to lessen competition, create a dominant position, or strengthen the acquirer's market power. The CCP's assessment was limited to competition review under Section 11 of the Act, with other matters falling under applicable laws and regulatory oversight.