Fair trade regulator CCI Tuesday approved purchase of 25 per cent stake in Hyderabad-based Gemini Edibles and Fats India (GEF India) by Singapore's Black River Food.
According to CCI, Black River Food 2 Pte Ltd is a company incorporated in Singapore and is registered as a foreign venture capital investor under the Securities and Exchange Board of India (Sebi).
Black River is a wholly-owned subsidiary of Black River Food 2 LP which specialises in investments in food industry and agribusiness value chain.
Besides, GEF India, a subsidiary of Golden Agri Resources of Singapore, which in turn is a part of Sinarmas Group, is engaged in the manufacture and sale of edible oils, including Vanaspati, and bakery fats in India.
The Competition Commission of India (CCI) "approves acquisition of 25 per cent equity share capital of the Gemini Edibles and Fats India by Black River Food 2 Pte Ltd," the regulator said in a tweet.
The regulator cleared the transaction as it did not give rise to competition concerns regardless of the definition of the relevant markets.
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