ISLAMABAD   -   The Competition Com­mission of Pakistan (CCP) has approved the acquisi­tion of M/s Fauji Founda­tion’s Fauji Cereals Busi­ness by M/s Fauji Foods Limited. The Fauji Founda­tion, established as a char­itable trust for the welfare of ex-servicemen and their families, submitted a pre-merger application to the CCP under Section 11 of the Competition Act, 2010. The proposed transaction involves the acquisition of the Fauji Cereals Busi­ness by M/s Fauji Foods Limited through a Busi­ness Transfer Agreement. M/s Fauji Foods Limited is a publicly listed company incorporated in Pakistan, primarily focused on the production and sale of dairy and allied products. CCP’s assessment of the pre-merger application indicated that there were no overlaps between the merging parties in the ar­eas of business activities such as Breakfast Cereals and Wheat, Barley & Por­ridge. Therefore, the CCP concluded that market conditions will remain un­changed post-transaction, with no significant altera­tion to the competitive landscape in these prod­uct categories. Following competition assessment, CCP concluded that the proposed transaction in­volves the acquisition of shares and does not sug­gest any substantial less­ening of competition or the creation or strength­ening of a dominant posi­tion in the relevant mar­ket. Restructuring will ensure the Breakfast Cere­al business is consolidated under one arm and result in future profitability.