WAPCOS gets CCI nod for NPCC acquisition

The Competition Commission on Monday said it has given nod to public sector firm WAPCOS Ltd for acquiring shares of National Projects Construction Corporation (NPCC).

In a tweet, the fair trade regulator said that it "approves the acquisition of shares of National Projects Construction Corporation Limited by WAPCOS Limited".

The transaction "involves the acquisition of 98.89 per cent shareholding held by the President of India, represented by and acting through the Ministry of Water Resources, River Development & Ganga Rejuvenation, Government of India in NPCC to WAPCOS along with the transfer of management control," a notice filed with the competition watchdog said.

The ownership of NPCC shall transfer from the government to WAPCOS after the transaction, it added.

In another tweet, the Competition Commission of India (CCI) said that it "approves the acquisition of shares in Medplus Health Services Private Limited by PI Opportunities Fund-I."
Separately, the CCI also tweeted that it "approves the acquisition of shares in Indo Rama Synthetics (India) Limited by Indorama Netherlands B.V."