The Competition Commission of Pakistan (CCP) has given its approval for International Electric Power (Private) Limited to acquire an 11.9% stake in Sindh Engro Coal Mining Company (SECMC) Limited. The acquisition, finalized through a Share Purchase Agreement (SPA), involves the transfer of ordinary shares.
International Electric Power (Private) Limited, formed in March 2024 for this specific deal, is a collaboration between Liberty Power Holding, Soorty Enterprises, and Procon Engineering. SECMC, the company being acquired, is a leading force in Pakistan’s coal mining industry, while the selling party, Engro Energy Limited, is a key subsidiary of Engro Corporation and a major player in the country’s energy investment sector.
In its review, the CCP identified the relevant market as coal mining in Pakistan, with SECMC regulated by the Thar Coal Energy Board and the Sindh government, which oversee coal pricing for power plants reliant on Thar coal. The acquisition will bolster International Electric Power’s presence in the coal mining sector without significantly altering SECMC’s market share.
Given its importance to Pakistan’s energy landscape, particularly in the Thar region, coal mining is vital to the country’s economic development and energy generation capacity. This deal is expected to support these objectives by reinforcing local energy infrastructure.
