ISLAMABAD: China-based M/s CNNP Rich Energy Co. Ltd strategically invests in Pakistan’s renewable energy sector through its wholly-owned subsidiary, M/s. CRE International Co., Limited.
The Competition Commission of Pakistan (CCP) has approved the acquisition of M/s. Super Success Investments Limited (SSIL) by M/s. CRE International Co., Ltd. CRE is the wholly owned subsidiary of CNNP Rich Energy Co. Limited, located in Hong Kong. M/s. Super Success Investments Limited (SSIL) is based in Mauritius, according to a press release issued here on Sunday.
SSIL owns a 100 percent shareholding in M/s. UEP Wind Power (Private) Limited is a private company operating and maintaining a 99 MW wind-powered electric generation facility in Pakistan. CRE has acquired SSIL and thus indirectly acquired UEP Wind Power Pakistan.
CCP conducted a comprehensive review of the merger documentation. Given that the transaction did not lead to the dominance of the acquirer in the relevant market, the CCP has approved the merger.
