CCP clears transaction: UAE firm to acquire stakes in MTML from Chinese investors

Business Recorder reported that the Competition Commission of Pakistan (CCP) has approved, at its Phase-I review, a deal under which UAE-based Velora Global Ventures will buy shares in Masood Textile Mills Limited (MTML) from two China-incorporated investors. The stakes are held by Shanghai Challenge Textile Company and Zhejiang Xinao Industry Company, and the purchase follows a share purchase pact struck on July 27, 2026.

Velora was established on June 26, 2025 under the Ajman Free Zone Authority, and it works in wholesale fabric and apparel trading plus brokerage outside Pakistan. Two linked companies, Gulf Textile Sourcing F.Z.C. and Zara Textile Trading F.Z.C., handle sourcing, trade and order coordination for overseas customers, as stated in the CCP's decision.

Because Velora had no market presence in Pakistan before the deal, the CCP concluded that MTML's production, local sales and market standing would not be materially altered. It also saw no competition concern in a possible vertical link between Velora's trading and MTML's manufacturing, and the deal was cleared under Section 31(1)(d)(i) of the Competition Act, 2010. The commission stressed that its review covered competition only, while other laws, court orders and sector regulators still apply.