CCP Approves Maple Leaf Cement’s Acquisition of Pioneer Cement

The Competition Commission of Pakistan (CCP) has approved Maple Leaf Cement Factory Limited’s plan to acquire additional shares in Pioneer Cement Limited, concluding that the deal will not create or enhance a dominant position in the national cement market. Maple Leaf Cement submitted its pre-merger application on November 19, 2025, seeking approval to purchase shares from Vision Holdings Middle East Limited and other sellers through the Pakistan Stock Exchange. The CCP reviewed the transaction under the Competition Act, 2010 and Merger Control Regulations, 2016. Both companies are major players in the grey cement manufacturing sector. The Commission’s Phase-I analysis found that although the merger is horizontal in nature, the combined market share would remain moderate and strong competition from other major cement producers would persist. The CCP therefore authorized the transaction under Section 31 of the Competition Act.