The Competition Commission of Pakistan (CCP) has granted approval to the acquisition of Coca Cola (Pakistan) under phase-1 review of the Competition Act, 2010, and the Competition (Merger Control) Regulations, 2016. Coca-Cola ?ecek (Turkey) acquired 49.67 percent shareholding of Coca Cola (Pakistan) through CCI International Holand (one of its subsidiaries) from Atlantic Industries.
The transaction involves total consideration of USD 300 million. After this transaction, Coca Cola Turkey will own the majority of shareholding in Coca Cola (Pakistan) with management. This is significant vote of confidence that Pakistani economy has great potential for above-average returns on their capital for international investors. The Chairman and Mergers team has streamlined, merger system and process to expedite mergers/acquisitions applications to facilitate international investors.