ISLAMABAD – The Competition Commission of Pakistan (CCP) on Monday approved the acquisition of 94.8 percent shareholding in FINCA Microfinance Bank Limited by TPL Corp Limited and ABHI (Private) Limited.
According to the press release issued by the CCP on Monday, TPL Corp Limited will acquire 33.17pc, and ABHI (Private) Limited 61.61pc of the FINCA Microfinance Bank’s shares.
In the assessment, the CCP focused on the microfinance lending services market in the country. As per the CCP, the desired acquisition would not result in a dominant market position for the acquirers.
TPL Corp Limited is engaged in strategic investments across various sectors, including insurance, real estate, security, asset tracking, and technology start-ups.
ABHI (Private) Limited offers investment finance services under non-banking finance company regulations.
