Investment fund Synergy Metals gets CCI nod for stake buy in JSW Cement

Synergy Metals Investments Holding has received a nod from Competition Commission of India (CCI) to acquire a stake in Sajjan Jindal-led JSW Cement.

 

The investment fund company has received the approval under the ‘green channel notice,’ Public Information Bureau said in its release today.

 

Unlisted JSW Cement currently has a capacity of 14 million tonne. The company aims to reach a capacity target of 25 million tonne by 2023.

 

JSW Cement refrained from commenting on the stake buy by the investment fund.

 

Synergy Metals and Mining Fund I LP, parent of Synergy Metals Investments Holdings Limited is an investment fund, which invests in the industrials, metals and power sectors globally.