Fair trade regulator CCI has approved the proposed acquisition of valves and controls business of Pentair Plc by global technology and engineering firm Emerson Electronics Co.
In a tweet, the Competition Commission of India (CCI) said it has approved the "acquisition of the valves and controls business of Pentair Plc by Emerson Electric Co".
Emerson Electronics had in August signed an agreement to purchase the concerned business of Pentair for USD 3.15 billion.
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"The complementary acquisition establishes Emerson's global presence in control, isolation, pressure relief valves and actuation as part of a larger strategy to build a broader automation portfolio," the company had said in a release.
Emerson Electronics is a diversified technology and engineering company engaged in the business of process management, industrial automation, network power, climate technologies and commercial and residential solutions.
Pentair is diversified industrial manufacturing firm comprising four business segments -- valves and controls, flow and filtration solutions, water quality systems and technical solutions.
Both companies have presence in India.
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