Competition Commission of India (CCI) has approved the stake acquisition in Shiva Cement’s parent organization -- JSW Cement by Synergy Metals Investments Holding, under the green channel route. Green channel is an automatic approval system, whereby a combination is deemed to have been approved by the CCI upon receiving the filing of the notice for the combination by the parties concerned.
The acquirer proposes to acquire a minority equity stake in the target, as per a combination notice filed with the regulator. The proposed combination fits well with the acquirer's vision of investing in leading companies with potential to achieve attractive investment returns.
Shiva Cement, the Odisha-based cement company, and a subsidiary of JSW Cement, India’s leading producer of green cement.
