Ministry of Corporate Affairs of the Republic of India

07/15/2021 | Press release | Distributed by Public on 07/15/2021 00:31

CCI receives notice relating to acquisition of equity stake in JSW Cement by Synergy Metals Investments Holding Limited, under Green Channel and is deemed approved

Ministry of Corporate Affairs

CCI receives notice relating to acquisition of equity stake in JSW Cement by Synergy Metals Investments Holding Limited, under Green Channel and is deemed approved

Posted On: 15 JUL 2021 11:53AM by PIB Delhi

The Competition Commission of India (CCI) receives notice relating to acquisition of equity stake in JSW Cement by Synergy Metals Investments Holding Limited, under Green Channel and is deemed approved

The Competition Commission of India ('CCI') received a notice relating to acquisition of equity stake in JSW Cement ('Target') by Synergy Metals Investments Holding Limited ('Acquirer'), under Green Channel and is deemed approved.

The Acquirer is the investment fund of its ultimate controlling entity, Synergy Metals and Mining Fund I LP ('Synergy Fund'). Synergy Fund invests in the industrials, metals and power sectors globally.

The Target is an unlisted public company based in India and belongs to the JSW group of companies. Its business activities include (a) production, manufacturing and trading of cement, clinker, ground granulated blast-furnace slag, slag sand and related products; (b) mining, crushing and grinding of raw materials and all other processes to finally produce and manufacture cement; (c) road transportation services; and (d) purchase of land/immovable properties to erect houses/building, etc.

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