Pakistan, Feb. 23 -- The Competition Commission of Pakistan (CCP) approved the acquisition of assets of Hotel Margala Private Limited by Nishat Hotels and Properties Limited (NHPL), read a statement issued on Saturday.
Under the Sale and Purchase Agreement, Nishat Hotels and Properties Limited will acquire the assets of Hotel Margala, including leasehold rights to its plot on Srinagar Highway, the entire built-up structure of the motel, fittings and fixtures, utility connections, associated deposits, and all movable property on the premises.
According to the statement, as part of its competition assessment, the CCP examined potential concerns related to market dominance and the impact on competition following the merger. "The relevant pro...