New Delhi [India], July 15 (ANI): The Competition Commission of India (CCI) approved the stake acquisition in JSW Cement (Target) by Synergy Metals Investments Holding Limited (Acquirer), under the green channel route, the Ministry of Corporate Affairs said on Thursday.
According to the ministry, the acquirer is the investment fund of its ultimate controlling entity, Synergy Metals and Mining Fund I LP (Synergy Fund).
It further stated that the Synergy Fund invests in the industrials, metals and power sectors globally.
JSW Cement is an unlisted public company based in India and belongs to the JSW group of companies, it said.
As per the ministry, its business activities include production, manufacturing and trading of cement, clinker, ground granulated blast-furnace slag, slag sand and related products, mining, crushing and grinding of raw materials and all other processes to finally produce and manufacture cement, road transportation services, and purchase of land/immovable properties to erect houses/building, etc. (ANI)