ISLAMABAD, Jan. 16 -- The Competition Commission of Pakistan (CCP) has granted approval for Toyota Motor Corporation's acquisition of Mitsubishi Fuso Truck and Bus Corporation (MFTBC), marking a significant step in the global restructuring of the commercial vehicle sector.

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The acquisition is part of a broader collaboration involving Toyota, Daimler Truck AG, Hino Motors Ltd, and MFTBC. Together, these companies aim to consolidate and jointly manage the commercial vehicle operations of Hino and MFTBC under a newly established holding structure.

Under the restructuring plan, Daimler Truck AG will also acquire a stake in a newly incorporated holding company, AIB Ltd, which will...