Phase-I review: CCP approves takeover of Ranipur Sugar Mills

ISLAMABAD: The Competition Commission of Pakistan (CCP) has authorised the acquisition of majority shareholding in M/s Ranipur Sugar Mills (Private) Limited by M/s Saakh Pharma Limited and M/s United Ethanol Industries Limited under Phase-I review. Ranipur Sugar Mills (Pvt) Limited (‘RSML’ or ‘the Company’) was incorporated in Pakistan as a private limited company in 1998. The Company is primarily engaged in the business of manufacturing and sale of sugar along with generation of electricity through a 25. 5 MW in-house power plant. The product portfolio contains sugar, molasses, bagasse, biofuels & renewable energy. The Company has also recently ventured into ferro alloys and produces calcium carbide, which among other applications is used for fruits ripening, in the steel industry & as a source of acetylene. READ ALSO: CCP allows acquisition of Ranipur Sugar Mills by Saakh Pharma, United Ethanol The sugar mill is situated at Ranipur, District Khairpur, Sindh, over an area of 133. 33 acres. The registered office of the Company is situated in Karachi. Parent Company Profile: Al-Madad Holdings (Pvt) Limited was incorporated in 2017, which holds 99. 999 percent of RSML. The principal business of the parent company is to invest in debt and equity instruments. Shunaid Qureshi, chairman of RSML, owns 49. 6 percent of Al-Madad Holdings while 10. 3 percent is owned by Shahmir Shunaid, who is also a director of RSML. The registered office is situated in Karachi. Other prominent associated companies under the same directorship include Hum Network Limited, Ranipur Energy (Pvt) Ltd (Dormant), Ranipur Biomass (Pvt) Ltd, Al-Abbas Power Generation Ltd, Hamara Ghar (Pvt) Ltd, etc. The target company, Ranipur Sugar Mills (Private) Limited, is engaged in the manufacturing and sale of sugar along with related by-products and power generation through an in-house facility. The acquirers Saakh Pharma Limited is a public listed company engaged in the manufacturing and sale of pharmaceutical and biological products, while United Ethanol Industries Limited operates in the ethanol and industrial products segment within the broader agribusiness sector. During the proceedings, it was noted that the transaction had been consummated prior to obtaining the Commission’s approval. The Commission emphasized that pre-merger approval is a mandatory statutory requirement for notifiable transactions and must be obtained before their execution. The applicants have submitted an undertaking to ensure strict compliance with the law in future. From a competition perspective, the Commission determined that the transaction constitutes a conglomerate merger, with no significant horizontal overlap between the business activities of the parties and only limited vertical interaction. The Commission observed that the target’s market presence remains limited and that there is no evidence of any significant supply dependency or competitive concern arising from the transaction. Based on its assessment, the Commission concluded that the transaction is unlikely to result in the creation or strengthening of a dominant position or to substantially lessen competition in the relevant markets. Accordingly, the CCP has authorized the transaction under the applicable provisions of the law. Copyright Business Recorder, 2026

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