CCP Approves Treet’s Increased Stake in Loads

The Competition Commission of Pakistan (CCP) has approved Treet Corporation Limited’s plan to increase its shareholding in Loads Limited through a rights issue after completing a Phase-I review under the Competition Act, 2010.

According to a CCP’s statement, the Treet Corporation had submitted a pre-merger application to the CCP under Section 11 of the Act, seeking approval to subscribe to additional ordinary shares of Loads Limited.

Treet Corporation is a listed company primarily engaged in the manufacturing and sale of razors and razor blades, while its subsidiaries operate in multiple sectors including batteries, corrugated packaging, soaps, medicinal concentrates, electric bikes, rickshaws, and workforce solutions.

Loads Limited, also a listed company, manufactures and supplies automotive components including radiators, exhaust systems, and metal sheet parts for Pakistan’s automobile industry.

During its assessment, the CCP identified the relevant markets as exhaust systems, radiators, and metal sheet components, with Pakistan considered the relevant geographic market.

The Commission noted that Treet Corporation and Loads Limited are already associated undertakings with common management representation. The proposed transaction involves Treet increasing its ownership in Loads Limited through a rights issue and is considered an equity investment between related entities.

Following its review, the CCP determined that the transaction would not change the existing market position of either company or negatively affect competition in the relevant sectors. The Commission also found that the deal would not create barriers for new market entrants or significantly increase the market power of the companies involved.

Based on these findings, the CCP concluded that the transaction would not create or strengthen a dominant market position under the Competition Act, 2010. The Commission therefore approved the transaction under Section 31(1)(d)(i) of the Act.

The approval highlights the CCP’s efforts to support legitimate business investments and corporate restructuring while ensuring fair competition, market efficiency, and consumer protection.