Competition Commission of Pakistan clears acquisitions of 19.07percent shares of Khushhali Bank Limited by a consortium of buyers

Islamabad, December 22, 2014 (PPI-OT): The Competition Commission of Pakistan (CCP) today issued a no objection certificate to a consortium of buyers comprising of Credit Suisse Microfinance Fund Management Company and Rural Impluse Fund II S.A. SICAV-FIS for the proposed acquisition of 19.07% shares of Khushhali Bank Limited.

The transaction was notified under the Competition Act 2010 on 5 November 2014. The CCP carried out a detailed Phase I review, which included obtaining market shares of the merger parties and their competitors in Pakistan.

After a comprehensive review, the CCP approved the said transaction since there was no lessening of competition by creating or strengthening a dominant position in the relevant market.

For more information, contact:
Asfandyar Khattak
Director (Media and Communications)
Competition Commission of Pakistan (CCP)
7th Floor South, ISE Towers,
55-B, Jinnah Avenue, Islamabad, Pakistan
Tel: +92-51-9100260-3, +92-51-9100256
Fax: +92-51-9100251
Email: akhattak@cc.gov.pk
Website: www.cc.gov.pk

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