ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved the proposed acquisition of a controlling interest in Olam Agri Holdings Limited (Olam Agri) by the Saudi Agricultural and Livestock Investment Company (SALIC), a wholly-owned subsidiary of the Saudi Public Investment Fund.
The transaction involves the transfer of shares from Olam Group’s Singapore-based entities, Olam Agri Pte. Limited and Olam Holdings Pte. Limited, to SALIC.
Olam Agri operates in Pakistan in the origination, trading, and processing of agricultural commodities, including edible oils, rice, cotton, rubber, and timber.
Following a Phase I review, the CCP determined that the acquisition will not create or strengthen a dominant position in Pakistan. The Commission noted that SALIC does not have direct business operations in Pakistan and the transaction represents a shift from joint to sole control at the shareholder level.
The CCP also observed that Pakistan’s agricultural commodities sector remains competitive, with multiple active traders and importers. Based on the assessment, the Commission concluded that the acquisition does not raise competition concerns and will not substantially lessen competition in the relevant markets.
The transaction has been authorized under the Competition Act, 2010, and the Competition (Merger Control) Regulations, 2016.
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