The Competition Commission of India (CCI) has approved the amalgamation of Aditya Birla Chemicals (India) (ABCIL) with Grasim Industries. The company has received the approval through letter dated September 07, 2015 which was received by it on September 08, 2015.
Earlier in July this year, ABCIL has received shareholders’ approval for merging itself with Grasim Industries. The two companies of Aditya Birla Group are being merged in order to consolidate similar businesses under one roof.
Aditya Birla Chemicals is a leading manufacturer of bulk and specialty chemicals and viscose filament yarn. The business is spread across multiple manufacturing locations in four countries - India, Thailand, Germany and China.