CCP approves Lotte Chemical Pakistan’s acquisition of stake in Engro Polymer

The Competition Commission of Pakistan has cleared Lotte Chemical Pakistan’s proposed purchase of a stake in Engro Polymer and Chemicals, Profit by Pakistan Today reported on October 20. The decision followed a first-phase review, with the regulator finding no significant competitive concern or risk of either company gaining greater market dominance.

The commission said the deal would alter EPCL’s ownership and control but would not directly raise its output, sales or production capacity. It found no overlap between the companies in PVC, caustic soda or hydrogen peroxide, and noted that Lotte Chemical does not operate in those markets or buy EPCL’s products. The approval was granted under the Competition Act, 2010; EPCL is Pakistan’s only domestic PVC producer, while imports constrain competition in that market.