KARACHI: The Competition Commission of Pakistan (CCP) has approved JS Hotel REIT’s proposed acquisition of Elite Hospitality Ventures (Pvt) Limited, the regulator said on Monday. The approval was granted under Section 11 of the Competition Act, 2010 and the Competition (Merger Control) Regulations, 2016.
JS Hotel REIT, a newly established Sharia-compliant hybrid REIT scheme operating under the Real Estate Investment Trust Regulations, 2022, plans to acquire shares of Elite Hospitality Ventures through a share purchase agreement. The target entity is a special purpose vehicle created to develop and operate a planned four-star Hilton Garden Inn hotel in Hyderabad.
In its assessment, the commission examined the transaction’s nature, its impact on market structure, and potential competitive effects in Hyderabad’s hospitality sector. The CCP noted that neither party is currently active in the sector, meaning the transaction involves no horizontal overlap or vertical linkage.
The commission concluded the acquisition is non-horizontal and does not pose any risk of reducing competition, distorting the market or creating or strengthening a dominant position. The transaction has therefore been authorised under Section 31(1)(d)(i) of the Competition Act, 2010.
