The Competition Commission of India (CCI) approved the proposed combination relating to acquisition of clinker, cement and power plants belonging to Jaiprakash Associates Limited and its associate (Sellers) (Target Assets), by the Dalmia Cement (Bharat) Limited (Acquirer) (Proposed Combination).
The Acquirer is a wholly owned subsidiary of Dalmia Bharat Limited (DBL) which has been in business of the manufacture and sale of cement for over 80 years. DBL is the ultimate parent entity of the Dalmia Bharat Group (i.e., Acquirer Group). DBL (directly and through its “controlled” entities) is primarily engaged in the segments for (i) manufacture and sale of cement, (ii) manufacture and sale of sugar, and (iii) provision of refractory services.
The Target Assets are engaged in the manufacture and sale of clinker in India, manufacture and sale of grey cement primarily in the states of Madhya Pradesh, Uttar Pradesh, Chhattisgarh and (coal-based) thermal power generation primarily for captive consumption purposes in India.
Detailed order of the CCI will follow.