{"id":436542,"date":"2024-10-11T08:15:02","date_gmt":"2024-10-11T03:15:02","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=436542"},"modified":"2024-10-11T08:15:02","modified_gmt":"2024-10-11T03:15:02","slug":"ccp-approves-joint-acquisition-of-uch-power-by-sapphire-fibres-and-mindbridge","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/ccp-approves-joint-acquisition-of-uch-power-by-sapphire-fibres-and-mindbridge\/","title":{"rendered":"CCP Approves Joint Acquisition of Uch Power by Sapphire Fibres and Mindbridge"},"content":{"rendered":"<p>ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved the joint acquisition of Uch Power (Private) Limited and Uch-II Power (Private) Limited by Sapphire Fibres Limited (Acquirer 1) and Mindbridge (Private) Limited (Acquirer 2). The acquisition, formalized through a Sale and Purchase Agreement with UPLHC-I Limited (Seller 1), UPLHC-II Limited (Seller 2), and International Power Uch Holdings B.V. (Seller 3), will transfer 100 percent of the shares of Uch Power I and Uch-II Power to the acquirers. The total cost for the acquisition includes a significant investment for both Uch Power I and Uch Power II. Both Sapphire Fibres Limited and Mindbridge Private Limited will equally share ownership, holding a 50% stake in each of the power plants. Sapphire Fibres, a publicly listed company, operates in textiles manufacturing and power generation through its subsidiary, Sapphire Electric Company. Mindbridge, a private IT services provider, will now enter the power generation sector with this acquisition. Our Correspondent<br \/>\nUch Power and Uch-II Power are active in Pakistan\u2019s thermal power sector, with gas-powered plants. The acquisition will increase Sapphire Fibres\u2019 market presence in thermal power generation, while Mindbridge will mark its entry into the power generation industry through the proposed transaction.<br \/>\nThe CCP\u2019s analysis has determined that the relevant product market for this transaction is \u2018Thermal Power Generation \u2013 Independent Power Producer\u2019 within Pakistan. The acquisition will not lead to market dominance by the Acquirers, ensuring continued competition in the sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved the joint acquisition of Uch Power (Private) Limited and Uch-II Power (Private) Limited by Sapphire Fibres Limited (Acquirer 1) and Mindbridge (Private) Limited (Acquirer 2). The acquisition, formalized through a Sale and Purchase Agreement with UPLHC-I Limited (Seller 1), UPLHC-II Limited (Seller 2), and International Power [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-436542","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CCP Approves Joint Acquisition of Uch Power by Sapphire Fibres and Mindbridge<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/ccp-approves-joint-acquisition-of-uch-power-by-sapphire-fibres-and-mindbridge\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CCP Approves Joint Acquisition of Uch Power by Sapphire Fibres and Mindbridge\" \/>\n<meta property=\"og:description\" content=\"ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved the joint acquisition of Uch Power (Private) Limited and Uch-II Power (Private) Limited by Sapphire Fibres Limited (Acquirer 1) and Mindbridge (Private) Limited (Acquirer 2). 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