ISLAMABAD: The Competition Commission of Pakistan has approved a merger as part of a corporate restructuring within the Dawood Group, following a review under the Competition Act, 2010. The transaction will see Cyan Limited and DH Partners Limited amalgamated into Dawood Lawrencepur Limited (DLL).
The merger follows a scheme of amalgamation dated December 16, 2025, under which all assets, liabilities and obligations of Cyan Limited and DH Partners Limited will be consolidated into DLL. Shares of Dawood Lawrencepur Limited will be issued to the shareholders of the merging companies.
Dawood Lawrencepur Limited, a publicly listed company and subsidiary of Dawood Corporation (Private) Limited, primarily manages investments in subsidiaries and associated companies involved in renewable energy, including wind and solar, and maintains a portfolio in local capital markets. Cyan Limited, also publicly listed, focuses on high-growth equity investments, while DH Partners Limited, listed on the Pakistan Stock Exchange in February 2025, manages equity investments.
In its Phase-I assessment, the CCP observed that all three companies operate mainly as investment vehicles across multiple sectors. The proposed transaction is an internal restructuring under common management control and does not consolidate market power.
The commission concluded that the merger would not create or strengthen a dominant position, nor substantially reduce competition in the relevant market. The transaction was authorised under Section 31(1)(d)(i) of the Competition Act, 2010.
The CCP noted that such restructuring can enhance efficiency in managing investment portfolios and strengthen institutional investment capacity, while ensuring compliance with competition principles and maintaining market integrity.
