In a significant move, the Competition Commission of Pakistan (CCP) has granted approval for a merger in the deep-sea container liner shipping services market. The approved merger involves M/S. PIL Holdings Pte. Ltd. acquiring a minor shareholding in M/s. PIL Pte. Ltd., both registered entities in Singapore.
PIL Pte. holds an indirect subsidiary in Pakistan named Pacific Delta Shipping (PDSPL), which operates as the designated local agent managing shipments and cargo for PIL Pte. Group customers within the country. This merger highlights the growing interest of foreign entities in Pakistan’s dynamic cargo and shipment sector.
The acquiring entity, PIL Holdings, primarily focuses on investment holdings, while PIL Pte. is actively involved in the Far East Asia to Pakistan route (China-Vietnam-Singapore-Malaysia-Sri Lanka-India-Pakistan) and vice versa. Additionally, PIL Pte. operates an international carrier with a global presence spanning China, Southeast Asia, Africa, the Middle East, Latin America, Oceania, and the Pacific Islands.
Following the phase 1 review, the CCP concluded that the proposed transaction would not result in the dominance of PIL Holdings in the relevant market post-merger. Consequently, the CCP has authorized the merger, signaling a strategic expansion for the Singapore shipping giant in Pakistan’s shipping and logistics landscape.
Also Read: Shoe & Cloth: CCP Cracks Down on Deceptive Discounts
