Competition Commission of Pakistan Approves Maple Leaf Cement Share Acquisition in Faysal Bank

The Competition Commission of Pakistan (CCP) has approved the share acquisition of Faysal Bank Limited by Maple Leaf Cement Factory Limited after reviewing the transaction under the Competition Act, 2010.

According to the regulator, Maple Leaf Cement acquired the shares through open market transactions on the Pakistan Stock Exchange during 2025, as part of the company’s investment strategy in the banking sector.

The commission also reviewed one share purchase that had been completed before regulatory clearance was obtained. After assessment, CCP granted ex post facto approval, stating that the transaction did not raise any competition concerns. However, the company was directed to ensure compliance with pre-merger approval requirements under the Competition Act and the Competition (Merger Control) Regulations, 2016 in future deals.

In addition, the regulator approved Maple Leaf Cement’s plan to acquire further shares in Faysal Bank, which will increase its overall stake in the bank.

During the Phase-I competition assessment, CCP noted that both companies operate in separate sectors Maple Leaf Cement in cement manufacturing and Faysal Bank in commercial banking. As a result, the transaction does not create horizontal or vertical overlap between the two businesses.

The commission concluded that the deals are unlikely to reduce competition or create a dominant market position, and therefore authorized them under Section 31(1)(d)(i) of the Competition Act, 2010.

According to the regulator, such investments support capital formation and encourage broader investor participation in Pakistan’s financial sector while maintaining competitive market conditions.

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