The Competition Commission of Pakistan (CCP) has granted regulatory clearance for UAE-based Velora Global Ventures-F.Z.C. to acquire an equity stake in Pakistan-listed textile manufacturer Masood Textile Mills Limited (MTML) from two Chinese companies, according to a report by Business Recorder.
The transaction covers shares previously held by Shanghai Challenge Textile Company Limited and Zhejiang Xinao Industry Company Limited, both incorporated in China. The transfer is being executed pursuant to a Share Purchase Agreement entered into on July 27, 2026.
MTML was established in Pakistan in 1984 and operates in the manufacture and marketing of 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, engaging in wholesale textile and clothing trade and commercial brokerage outside Pakistan alongside associated entities Gulf Textile Sourcing F.Z.C. and Zara Textile Trading F.Z.C.
Following a Phase-I competition assessment conducted under Pakistan's Competition Act, 2010, the CCP determined that Velora had no pre-merger business presence in Pakistan. Regulators concluded that the transaction would not impact MTML's local market position, create entry barriers, or substantially lessen competition.
Sources
- Business Recorder · 2026-09-25
