Fair trade regulator Competition Commission of India (CCI) has approved the proposed deal between DCM Shriram Consolidated and US-based Axiall related to poly vinyl chloride compounds business. The proposed deal relates to subscription of 50 per cent stake by Axiall in DCM Shriram’s subsidiary, Shriram Vinyl Polytech, an entity involved in the production and sale of poly vinyl chloride (PVC) compounds.
According to the CCI, the proposed deal is unlikely to raise adverse effect on competition in India.
Axiall is a subsidiary of Axiall Corporation and is engaged in the production of PVC and PVC compounds, while DCM Shriram is a diversified company with business in agriculture, chemicals, plastics, cement, textiles and energy services. DCM Shriram had transferred its PVC compounding business to Shriram Vinyl, last year.
