Business, CCI, Companies, JSW Cement, Synergy Metals

The Competition Commission of India (CCI) has approved the stake acquisition in 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.

Noting the purpose of the transaction, it said the proposed combination fits well with the acquirer”s vision of investing in leading companies with potential to achieve attractive investment returns.

It further noted that acquirer is the investment fund of its controlling entity, Synergy Metals and Mining Fund I LP which invests in the industrials, metals and power sectors globally.

“Commission receives Green Channel notice by Synergy Metals Investments Holding relating to acquisition of equity stake in JSW Cement and is deemed approved,” the regulator said in a tweet on Wednesday.

TECH NEWS RELATED

Cruise travel revives as Indians set sail, industry sees high demand for festive period

Representative image Laid low by COVID in the last two years, cruise travel is now seeing a rebound. The industry is counting on the upcoming festive period for recovery to reach 75 percent of pre-COVID levels. All major cruise operators including Royal Caribbean, Dream Cruise and Costa Cruises came ...

View more: Cruise travel revives as Indians set sail, industry sees high demand for festive period

Nestle plans to invest Rs 5,000 crore in India by 2025, says CEO Mark Schneider

Global food & beverage conglomerate Nestle SA plans to invest Rs 5,000 crore in India in the next three-and-a-half years by 2025, its CEO Mark Schneider said on Friday. The move will help the company to accelerate its core business in the country and leverage new opportunities for growth. ...

View more: Nestle plans to invest Rs 5,000 crore in India by 2025, says CEO Mark Schneider

Kotak Group announces key leadership changes in AMC, investment advisory businesses

Lakshmi Iyer Kotak Group on September 23 announced key changes in its asset management and investment advisory businesses to aid its future growth plans. Asset management veteran Lakshmi Iyer will take charge as CEO of the investment advisory business at Kotak Investment Advisors Limited (KIAL). At Kotak Mahindra Asset Management Co. ...

View more: Kotak Group announces key leadership changes in AMC, investment advisory businesses

Citigroup sets India as high priority market amid China risks

Citigroup Inc. is targeting India as one of its top markets to expand in globally as risks mount in China and other regions, the bank’s global co-head of investment banking said. India presents “very clear” opportunities, said Manolo Falco, the global co-head of Banking, Capital markets and Advisory, in ...

View more: Citigroup sets India as high priority market amid China risks

SoftBank CEO wants a strategic alliance between Samsung and ARM

We recently reported that although Samsung and SK Hynix were among the front runners in the acquisition of the UK-based chip designer ARM, Samsung may back out of this race because of antitrust issues and the increased acquisition price. The latest report now suggests that SoftBank CEO Masayoshi Son is ...

View more: SoftBank CEO wants a strategic alliance between Samsung and ARM

Glenmark Pharma gets approval from Health Canada for nasal spray Ryaltris

Glenmark Pharmaceuticals Glenmark Pharmaceuticals on Friday announced approval by Health Canada for its nasal spray Ryaltris used in symptomatic treatment of moderate to severe seasonal allergic rhinitis and associated ocular symptoms. Health Canada granted approval to partner Bausch Health Companies Inc and Glenmark Specialty SA, a subsidiary of the ...

View more: Glenmark Pharma gets approval from Health Canada for nasal spray Ryaltris

Will Brahmastra be a hit or flop? Here's a breakdown of the business of Indian films

Movies entering the Rs 200 crore club are back after a two-year struggle during the pandemic. Brahmastra, starring Ranbir Kapoor and Alia Bhatt, has become only the second Hindi film to manage the feat in 2022. Yet, the jury is still out on whether Brahmastra can be declared a ...

View more: Will Brahmastra be a hit or flop? Here's a breakdown of the business of Indian films

Indian Oil plans Panipat refinery maintenance, to revamp naphtha cracker: Sources

Indian Oil Indian Oil Corp plans maintenance at its 300,000 barrels per day (bpd) Panipat refinery in northern India, which includes a shutdown of a naphtha hydrocracker for about 80 days and half of its crude processing for about a month, sources said. The country’s top refiner will shut ...

View more: Indian Oil plans Panipat refinery maintenance, to revamp naphtha cracker: Sources

Only 1/3 small, medium-sized Canadian businesses get mandatory cybersecurity training: survey

Coinbase Rejects Proprietary Trading and Crypto ‘Market Maker’ Allegations

YouTube and TikTok want the government to address their definition of Canadian content

Samsung expands its rugged Galaxy device portfolio in the USA

TVS Motor gets shareholders’ nod for sale of entire stake in Sundaram Holding

Meta ordered to pay Voxer millions in patent infringement case

Kirloskar Ind says will divest its 17.4% stake in Swaraj Engines to M&M

Job Hunting Tips: Here's Why the Top Tech Firms Prefer Having Updated References For Applicants

Race for GIP-backed Vector Green Energy: Singapore’s Sembcorp emerges as frontrunner

Bharti Airtel, WhatsApp partner to launch ‘Airtel IQ Hackathon; prizes up to Rs 1 crore

IGGL achieves 42.94% physical progress, Rs 1556.46 crore capital expenditure

Samsung’s networking gear is being used to enhance Comcast’s 5G network in the US

OTHER TECH NEWS

Top Car News Car News