The Competition Commission of India has approved the proposed acquisition of a 24.9 per cent equity stake in EPL Limited by Indorama Netherlands B.V.

The transaction involves Indorama Netherlands B.V., a private limited liability company incorporated in the Netherlands and an indirect subsidiary of Indorama Ventures Public Company Limited, acquiring nearly a quarter of EPL Limited’s share capital.

EPL Limited operates in the packaging sector, specialising in the manufacture and sale of laminated and extruded plastic tubes.

A detailed order from the Commission is expected to be issued shortly.