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CCP approves UAE firm’s acquisition of Masood Textile Mills shares
The Competition Commission of Pakistan (CCP) has approved the acquisition of a shareholding in Masood Textile Mills Limited by UAE-based Velora Global Ventures-F.Z.C. from two Chinese companies. The approval was granted following a Phase-I competition assessment under the Competition Act, 2010, the CCP said in a statement issued on Thursday. Under the transaction, Velora Global Ventures will acquire shares in Masood Textile Mills from Shanghai Challenge Textile Company Limited and Zhejiang Xinao Industry Company Limited under a Share Purchase Agreement. Velora Global Ventures, incorporated wit...
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