The Competition Commission of Pakistan (CCP) has cleared a transaction permitting UAE-based Velora Global Ventures-F.Z.C. to acquire a shareholding in Pakistan-listed manufacturer Masood Textile Mills Limited (MTML) from two Chinese corporate investors, according to Business Recorder.
The regulatory approval follows a Phase-I competition assessment conducted under the Competition Act, 2010. The transaction covers the acquisition of equity stakes previously owned by Shanghai Challenge Textile Company Limited and Zhejiang Xinao Industry Company Limited, both incorporated in China, pursuant to a Share Purchase Agreement signed on July 27, 2026.
Velora Global Ventures was incorporated under the Ajman Free Zone Authority on June 26, 2025, operating in textile and clothing wholesale trade and commercial brokerage outside Pakistan. The CCP noted that Velora operates alongside associated entities Gulf Textile Sourcing F.Z.C. and Zara Textile Trading F.Z.C., which focus on international textile sourcing, customer development, and order coordination.
Established in Pakistan in 1984, MTML manufactures and sells cotton and synthetic yarn, knitted and dyed fabrics, and finished garments. The CCP determined that Velora possessed no pre-merger footprint in Pakistan and concluded the equity transfer would neither alter MTML's operations nor establish market dominance or lessen competition.
Sources
- Business Recorder · 2026-09-25
