CCP Approves AsiaPak, Montage Oil’s Lotte Takeover Deal

The  Competition Commission of Pakistan (CCP) has approved the acquisition of a majority stake in LOTTE Chemical Pakistan Limited (LCPL) by AsiaPak Investments Limited (APIL) and Montage Oil DMCC (MOD). The two entities will equally share the acquired ownership under a Share Purchase Agreement with Lotte Chemical Corporation.

In its review, CCP examined the transaction’s potential impact on the purified terephthalic acid (PTA) market, a critical raw material in the polyester industry. Since neither APIL nor MOD currently operates in the PTA production sector, the acquisition is not expected to affect the existing market structure.

The Commission identified no horizontal or vertical overlaps between the parties involved. It concluded that the transaction would not pose any risk to competition, such as creating market entry barriers or increasing market power.