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January 16, 2026
The Competition Commission of Pakistan (CCP) has cleared two merger transactions tied to a global restructuring involving Toyota, Daimler Truck AG, Hino Motors, and Mitsubishi Fuso Truck and Bus Corporation.
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The Competition Commission of Pakistan has formally approved two merger transactions connected to a global restructuring plan involving Toyota Motor Corporation, Daimler Truck AG, Hino Motors Limited, and Mitsubishi Fuso Truck and Bus Corporation (MFTBC).
As part of the restructuring, Toyota, through Hino Motors, has taken complete ownership of MFTBC. In parallel, Daimler Truck AG has invested in a newly established holding company, AIB Limited, which will oversee the combined operations of Hino and MFTBC.
The CCP reviewed both transactions to evaluate their impact on Pakistan’s commercial vehicle sector. While some overlap between Hino and MFTBC was noted, the Commission concluded that the restructuring does not create or reinforce market dominance. “The commercial vehicle industry remains competitive, with several established players active in Pakistan,” the CCP stated.
The Commission also observed that Daimler no longer maintains independent commercial vehicle operations in Pakistan, making its stake in the holding company neutral in terms of competition. Both transactions were cleared under the Competition Act, 2010 and Merger Control Regulations, 2016.
