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Fair trade regulator CCI on Tuesday cleared Tata Steel's proposal to acquire a 50.01 per cent equity stake in Odisha-based Thriveni Pellets. The development came after Tata Steel in December last year announced that it entered into a pact to acquire a majority stake in Thriveni Pellets Pvt Ltd for Rs 636 crore. "The proposed combination relates to Tata Steel Limited's proposed acquisition of 50.01 per cent equity share capital of Thriveni Pellets Private Limited (TPPL) from Thriveni Earthmovers Private Limited," the regulator said in a release. Tata Steel Limited is engaged in integrated steel manufacturing operations, ranging from mining to steelmaking to further processing. It is also engaged in the mining of iron ore and the production of iron ore pellets, sponge iron and crude steel. TPPL is engaged in the sale of iron ore pellets in the country. TPPL's wholly-owned subsidiary, Brahmani River Pellets Ltd, is also engaged in production and sale of iron ore pellets in India. In
Fair trade regulator CCI on Tuesday approved home-grown private equity firm ChrysCapital's proposal to acquire a stake in Nash Industries (I) Pvt Ltd. Mumbai-based ChrysCapital is acquiring stakes through its three affiliates, ChrysCapital Fund X, Two Infinity Partners and Blue Wave Investments Ltd. These entities invest in different sectors. "The proposed combination pertains to the acquisition by ChrysCapital Fund X, Two Infinity Partners and Blue Wave Investments Limited (collectively, the Acquirers), collectively, of certain equity share capital of Nash Industries (I) Private Limited (Target)," the Competition Commission of India (CCI) said in a release. Nash Industries is engaged in the business of box build solutions and metal stamping. The acquirers are private equity investors, belonging to the ChrysCapital Group. "Commission approves acquisition by ChrysCapital Fund X, Two Infinity Partners and Blue wave Investments Limited, collectively, of certain equity share capital in
The Competition Commission of India (CCI) on Tuesday approved Japanese steelmaker Nippon Steel Corporation's proposal to acquire the remaining 53.4 per cent stake in Krosaki Harima Corporation. Nippon Steel holds a 46.6 per cent stake in Krosaki. After the completion of the transaction, Nippon Steel's holding in Krosaki would be 100 per cent. "The proposed combination involves acquisition by Nippon Steel Corporation (Nippon Steel) of 53.4 per cent shareholding of Krosaki Harima Corporation (Krosaki) by way of a tender offer and potential squeeze out (if applicable)," the regulator said in a release. In India, Nippon Steel is engaged in the business of manufacturing tubes and pipes, and processing automotive cold rolled steel sheets, crankshafts, and auto-parts and also imports and sells various products. Krosaki is a listed company in Japan. In India, Krosaki, through its affiliate entities, is engaged in the manufacturing and sale of refractory products, and services the iron & ..
Appellate tribunal NCLAT on Tuesday set aside a section of a Competition Commission of India (CCI) order that had banned WhatsApp from sharing data with Meta Platforms for advertising purposes for five years. Modifying the order passed by the CCI on November 18, 2024, the NCLAT set aside section 247.1 of the 158-page-long order. However, the tribunal retained the Rs 213 crore penalty on the company and the rest of the order. "We are setting aside the findings of the Commission insofar as it holds breach of Section 4 (2)(D) and setting aside the directions in paragraph 247.1, (which stated) WhatsApp will not share user data collected on its platform with other data companies or advertising purposes for a period of five years from the date of receipt of this order," said NCLAT bench while pronouncing its order orally in the open court. "In respect of such sharing of data for advertising purposes, the rest of the impugned order is upheld. The order dated 18 November 2024 is modified ..
Fair trade regulator CCI on Tuesday cleared Torrent Pharmaceuticals Ltd's proposed acquisition of a stake in JB Chemicals and Pharmaceuticals, subject to voluntary modifications offered by the companies. The development came after Torrent Pharmaceuticals in June this year announced the acquisition of a majority stake in JB Chemicals and Pharmaceuticals in a Rs 19,500-crore deal. "The proposed combination relates to the acquisition of shareholding by Torrent Pharmaceuticals Ltd (acquirer) in JB Chemicals & Pharmaceuticals Ltd (target) and the subsequent amalgamation of the target with the acquirer," the regulator said in a release. After the completion of the deal, Torrent Pharmaceuticals will become India's second most valued pharma company. "The Commission approved the proposed combination subject to compliance with voluntary modifications offered by the parties (Torrent Pharmaceuticals Ltd and JB Chemicals & Pharmaceuticals Ltd)," it added. Torrent Pharmaceuticals is the ...