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WAPCOS gets CCI nod for NPCC acquisition

Press Trust of India  |  New Delhi 

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."


The deal involves the acquisition of 31.79 per cent equity shares of Indo Rama Synthetics by Indorama Netherlands B.V. by way of a preferential allotment and equity shares amounting to 25.06 per cent of the share capital pursuant to an open offer under the relevant terms of markets regulator Sebi, a notice filed with the CCI said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 01 2019. 15:30 IST
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