CCP Approves Treet’s Additional Stake in Loads Ltd Through Rights Issue

Treet Corporation Limited has received approval from the Competition Commission of Pakistan (CCP) to increase its shareholding in automotive parts manufacturer Loads Limited through a rights issue, further strengthening its presence in Pakistan's automotive sector.

 

According to documents, the CCP approved Treet's subscription to additional ordinary shares in Loads Limited following a Phase-I review conducted under the Competition Act, 2010.

 

The investment represents another milestone in Treet's transformation from a consumer goods manufacturer into a diversified industrial group with interests spanning engineering, mobility, manufacturing, pharmaceuticals, batteries, packaging, electric vehicles, and workforce solutions.

 

Traditionally known for its razor and blade business, Treet has steadily expanded into new sectors, including electric bikes, electric rickshaws, soaps, pharmaceutical concentrates, and battery manufacturing. Its increased investment in Loads reflects a stronger commitment to Pakistan's automotive value chain as the industry advances toward greater localisation, electric mobility, and export-oriented manufacturing.

 

Loads Limited is one of Pakistan's established automotive component manufacturers, producing radiators, exhaust systems, and metal sheet components for vehicle assemblers and the aftermarket. The company is widely recognized for its engineering capabilities in thermal and exhaust system manufacturing.

 

According to the CCP's order, Treet sought approval under Section 11 of the Competition Act to subscribe to additional shares offered through the rights issue. After reviewing the transaction, the Commission authorized it under Section 31, concluding that it would not raise competition concerns.

 

The regulator identified the relevant markets as exhaust systems, radiators, and metal sheet components. It noted that Treet and Loads are already associated entities with common management representation, making the transaction an internal equity investment rather than the entry of a new market participant.

 

The Commission determined that the increased shareholding would not alter market shares, create barriers to entry, strengthen a dominant market position, or substantially reduce competition in the relevant markets.

 

Beyond its regulatory approval, the transaction highlights Treet's long-term strategy to expand its industrial and automotive manufacturing portfolio. By increasing its stake in Loads, the company is positioning itself to benefit from the continued growth of Pakistan's automotive components industry, particularly as localisation efforts and emerging mobility technologies gain momentum.

 

The approval also reflects the CCP's continued support for legitimate corporate restructuring and investment while ensuring competitive market conditions remain intact.