The Competition Commission of Pakistan (CCP) has approved a transaction allowing UAE-based Velora Global Ventures-F.Z.C. to acquire a shareholding in Pakistan-listed manufacturer Masood Textile Mills Limited (MTML) from two Chinese investors, Business Recorder reported. The clearance was granted following a Phase-I competition assessment conducted under the Competition Act, 2010.
The transaction covers the acquisition of shares owned by Shanghai Challenge Textile Company Limited and Zhejiang Xinao Industry Company Limited, both incorporated in China, pursuant to a Share Purchase Agreement executed on July 27, 2026. MTML, established in Pakistan in 1984, produces and markets cotton and synthetic yarn, knitted and dyed fabrics, and finished garments.
Velora Global Ventures was registered with 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 engage in international textile sourcing, customer development, and order coordination.
In its assessment, the CCP determined that Velora had no pre-merger presence in Pakistan and that the transaction would not alter MTML's production or domestic market standing. The commission concluded the deal would not create entry barriers, establish market dominance, or substantially lessen competition.
Sources
- Business Recorder · 2026-09-25
