The UAE-headquartered Bison Energy has been approved by the Competition Commission of Pakistan to complete the acquisition of two Pakistan-based liquefied natural gas (LNG) operators and distributors.

The competition watchdog approved the 100% acquisition of Tabeer Energy Private Limited and Tabeer Energy Marketing Private Limited by the UAE company, Dawn, a Pakistani English-language newspaper, reported.

The buyouts were approved as the proposed transactions did not raise any competition concerns, the report said.

The two Pakistan-based companies are engaged in establishing and operating a LNG terminal, as well as importing, storing, and distributing LNG and re-gasifying LNG.

(Editing by Brinda Darasha;