Islamabad, Aug 13: The purchase of M/s. PPR Holding A.S.’s 100% stake in M/s. SadaPay Technologies Limited through a share purchase agreement has been approved by the Competition Commission of Pakistan (CCP).
According to information, M/s. PPR Holding A.S., a Turkey-based private limited corporation, is an expert in investments in technology and financial institutions. M/s. SadaPay Technologies Limited, the acquisition target, is a publicly traded, unlisted business that was founded in Dubai, United Arab Emirates. It functions as the parent company and holding company of M/s. SadaPay (Private) Limited, the transaction’s ultimate goal.
The ultimate goal is a Pakistani private limited business that offers financial services, such as a digital wallet and a Mastercard debit card. PPR Holding A.S. states in the application that, upon completion of the transaction, it plans to purchase all of SadaPay Technologies’ shares, giving it direct control over both SadaPay Technologies and SadaPay (Private) Limited.
SadaPay and PPR, commonly known as Papara, inked a share purchase agreement in May 2024, but the acquisition was pending regulatory approval, which the business has now received from the CCP. “Electronic Money Institutions (EMIs)” in Pakistan were determined to be the appropriate product market by the CCP’s market evaluation. The market share that SadaPay (Pvt) Ltd holds in the digital transactions industry, which is catered to by many E/M-Wallet providers, is negligible and won’t alter after the transaction.
A well-known financial sector organization is entering Pakistan, which will introduce new technology, raise the bar for customer care, and offer safer digital payment choices. This purchase also highlights Pakistan’s market potential for attracting investors and growing businesses.
