CCP okays share buying in SECMC

The Competition Commission of Pakistan (CCP) has approved the acquisition of 11.9 per cent paid-up ordinary share capital of Sindh Engro Coal Mining Company (SECMC) Ltd by International Electric Power (Pvt) Ltd (IEPWR) under a Share Purchase Agreement (SPA). The IEPWR, established in March for this transaction, is jointly owned by Liberty Power Holding, Soorty Enter­prises and Procon Eng­ineering. The target company, SECMC, is a key player in coal mining and supply, while the seller, Engro Energy Ltd, a subsidiary of Engro Corporation, serves as a major holding company for energy investments in Pakistan.