PIB News Update:The Competition Commission of India (CCI) approves acquisition of 100% of the total issued and paid up share capital of Emami Cement Limited, on a fully diluted basis, by Nuvoco Vistas Corporation Limited
The proposed combination pertains to the acquisition of 100% of the total issued and paid up share capital of Emami Cement Limited (“ECL”), on a fully diluted basis by Nuvoco Vistas Corporation Limited (“NVCL”).
NVCL is a Nirma promoter group company and currently operates cement manufacturing units in the states of (i) Chhattisgarh, (ii) Jharkhand, (iii) West Bengal, (iv) Rajasthan and (v) Haryana. It is stated to be engaged in the businesses of manufacturing and sale of variety of grey cements including Portland Pozzolana cement, Portland Slag cement and Ordinary Portland cement. It is also engaged in the sale of certain other value-added products like construction chemicals, wall putty, and cover blocks.
ECL is a part of the Emami group and owns and operates cement manufacturing units in the states of (i) West Bengal, (ii) Chhattisgarh, (iii) Bihar and (iv) Odisha. It is stated to be engaged in the manufacturing and sale of variety of grey cements including Portland Pozzolana cement, Portland Slag cement, Ordinary Portland cement and plain cement concrete i.e. composite cement. It also manufactures and sells small quantities of clinker and ground granulated blast furnace slag.
Detailed order of the CCI will follow.