ISLAMABAD, Dec 1: The Competition Commission of Pakistan (CCP) has authorized the proposed acquisition of Elite Hospitality Ventures (Private) Limited by JS Hotel REIT. The approval granted under Section 11 of the Competition Act, 2010 and the Competition (Merger Control) Regulations, 2016.
JS Hotel REIT is a newly established Shariah-compliant Hybrid REIT Scheme operating under the Real Estate Investment Trust Regulations, 2022. It intends to acquire shares of Elite Hospitality Ventures through a Share Purchase Agreement. The Target entity is a Special Purpose Vehicle formed to develop and operate a planned four-star “Hilton Garden Inn” hotel in Hyderabad.
In its assessment, the Commission reviewed the nature of the transaction, its effect on market structure, and potential competitive implications in the relevant market in Hyderabad. CCP noted that neither party is currently active in the hospitality sector, therefore, the transaction creates no horizontal overlap or vertical linkage.
The Commission concluded that the acquisition is non-horizontal and poses no risk of reducing competition, distorting the market, or creating or strengthening a dominant position. The transaction has therefore been authorized under Section 31(1)(d)(i) of the Competition Act, 2010.
