The Competition Commission of Pakistan (CCP) has approved the acquisition of a 94.8 percent shareholding in FINCA Microfinance Bank Limited by TPL Corp Limited and ABHI (Private) Limited.
The bank’s current shareholders include FINCA Microfinance Coöperatief U.A., International Finance Corporation (IFC), Triodos Fair Share Fund, and Acumen Pakistan, CCP said in a press release.
Under the Sale and Purchase Agreement, TPL Corp Limited will acquire 33.17 percent, while ABHI (Private) Limited will acquire 61.61 percent of the target bank’s shares.
The CCP, in its competition assessment, focused on the microfinance lending services market in Pakistan. The assessment concluded that the acquisition would not result in a dominant market position for the acquirers.
TPL Corp Limited, a publicly listed investment company, is engaged in strategic investments across various sectors, including insurance, real estate, security, asset tracking, and technology start-ups. ABHI (Private) Limited, a licensed private company, offers investment finance services under Pakistan’s non-banking finance company regulations.
FINCA Microfinance Bank Limited is a licensed microfinance bank regulated by the State Bank of Pakistan (SBP). The sellers involved in the transaction—FINCA Microfinance Coöperatief U.A., IFC, Triodos Fair Share Fund, and Acumen Pakistan—are all organizations focused on sustainable investment and development in emerging markets.
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