Competition Commission approves Indo Gulf Fertilizers-Indorama deal

CCI said it has cleared the proposed acquisition of Indo Gulf Fertilizers by Indorama India Private Ltd

cci, competition commission of india
Competition Commission of India (CCI)
Press Trust of India New Delhi
1 min read Last Updated : Jan 28 2021 | 7:35 PM IST

Competition Commission of India (CCI) on Thursday said it has cleared the proposed acquisition of Indo Gulf Fertilizers by Indorama India Private Ltd.

Indo Gulf Fertilizers is a part of Grasim Industries Ltd.

Indorama will acquire the business as a going concern on a slump sale basis, as per a notice filed with the watchdog.

"Commission approves acquisition of Indo Gulf Fertilizers (fertilizer business division of Grasim Industries Limited) by Indorama India Private Limited," the fair trade regulator said in a tweet.

Indorama is engaged in manufacture, trading and sale of fertilisers, primarily, phosphatic fertilisers and speciality plant nutrients.

Grasim Industries Ltd is into production of viscose staple fibre, textiles and insulators, among others.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Topics :Competition Commission of IndiaGulf countriesFertilizers

First Published: Jan 28 2021 | 7:33 PM IST

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