EFU Life Assurance Limited (PSX: EFUL) has successfully concluded the acquisition of 100% of the shares in EFU Health Insurance Limited, according to the company’s filing on the Pakistan Stock Exchange (PSX) today. This acquisition marks a significant development in Pakistan’s Health Insurance and Health Takaful sector.
Key Players:
- Acquirer: EFU Life Assurance is a leading entity engaged in the life insurance business, encompassing ordinary life business and pension fund business.
- Target Company: EFU Health Insurance Limited, an unlisted public limited company, specializes in providing health insurance and health takaful cover within Pakistan.
Transaction Details:
- EFU Life Assurance is acquiring the entire shareholding of EFU Health from EFU Services (Private) Limited and six other shareholders.
- In exchange, EFU Life will issue its own ordinary shares at a swap ratio to the current shareholders of EFU Health.
Regulatory Approval:
- Following the Phase 1 Review, the Competition Commission of Pakistan (CCP) has determined that the proposed transaction will not lead to the acquirer gaining dominance in the relevant market post-completion. Consequently, the merger has received authorization.
Strategic Implications:
- The approval of EFU Life’s acquisition of EFU Health underscores the ongoing consolidation and strategic realignment within the industry.
- This consolidation has the potential to enhance services and offerings for customers, fostering a more competitive and robust health insurance landscape in Pakistan.
