Key Points
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Toyota acquires full ownership of Mitsubishi Fuso Truck and Bus Corporation.
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Daimler Truck takes a stake in a new holding company jointly, managing the Hino and Mitsubishi Fuso operations.
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Pakistan’s competition authority finds no risk to local market competition.
ISLAMABAD: Pakistan’s Competition Commission has approved two linked merger transactions that form part of a global restructuring in the commercial vehicle industry, led by Toyota Motor Corporation and Daimler Truck AG.
The reorganisation brings Japan-based Hino Motors and Mitsubishi Fuso Truck and Bus Corporation under a single holding company, streamlining global operations and management.
As part of the deal, Toyota, through its subsidiary Hino Motors, has acquired complete ownership of Mitsubishi Fuso.
At the same time, Daimler Truck has taken a stake in the new holding company that will jointly oversee both Hino and Mitsubishi Fuso operations worldwide.
The Competition Commission evaluated the transactions for their potential impact on Pakistan’s commercial vehicle market, including trucks and buses.
While there is some overlap between Hino and Mitsubishi Fuso operations locally, the authority concluded that the restructuring does not create a dominant position.
The sector remains competitive, with multiple established manufacturers active in the market.
The Commission also highlighted that Daimler Truck no longer operates independently in Pakistan.
Its only relevant interest is through the new holding company, making the transaction competitively neutral in the country.
Considering both transactions together, the Competition Commission found no competition concerns and granted approval under Pakistan’s Competition Act of 2010 and the associated merger control regulations.
