CCP Approves DW Pakistan’s Acquisition of Heavy Electrical Complex Shares

By Amna Anwar

2 min read

September 10, 2025

ISLAMABAD – The Competition Commission of Pakistan (CCP) has approved the acquisition of shares in Heavy Electrical Complex (Private) Limited by DW Pakistan (Private) Limited. The transaction, which involves a share purchase agreement with IMS Engineering (Private) Limited, was cleared by the CCP on September 9th.

DW Pakistan, the acquiring company, is an investment firm that does not currently operate in the manufacturing, engineering, or energy sectors. Heavy Electrical Complex, the target company, specializes in the manufacturing and repair of power transformers, including large-capacity units essential for Pakistan’s power transmission and distribution systems. The selling company, IMS Engineering, provides engineering, procurement, and construction services.

After reviewing the deal, the CCP determined that the merger would not harm market competition. The Commission identified the relevant market as “power transformers” and concluded that the transaction is a “conglomerate merger,” meaning it involves firms in unrelated businesses. The CCP found that the acquisition would not eliminate any existing or potential competitors or create a dominant position for DW Pakistan in the power transformer market.