KARACHI: The Competition Commission of Pakistan (CCP) has given its nod to the acquisition of an 8.33 per cent stake in National Investment Trust Limited (NITL) by two Pakistani residents. Following this transaction, Adamjee Foundation will no longer be a shareholder in NITL.
Established in 1962, NITL has been a pioneer in investment management in Pakistan, offering a wide range of products to cater to diverse investor needs. The CCP’s analysis determined that the relevant market for this acquisition is asset management services within Pakistan. The CCP’s approval confirms that the transaction will not significantly alter NITL’s market share, ensuring a competitive landscape in the asset management sector. This decision reinforces the CCP’s commitment to upholding competition law and maintaining a healthy economic environment in Pakistan.