+
CCI Clears Lloyds Metals’ 49.99 Per Cent Stake In Thriveni Pellets
POWER & RENEWABLE ENERGY

CCI Clears Lloyds Metals’ 49.99 Per Cent Stake In Thriveni Pellets

The Competition Commission of India (CCI) has approved Lloyds Metals and Energy Ltd’s proposal to acquire a 49.99 per cent equity stake in Thriveni Pellets Pvt Ltd (TPPL).
“The proposed combination involves the acquisition of 49.99 per cent of the equity share capital of TPPL by LMEL (Lloyds Metals and Energy Ltd),” the regulator said in its official release.
Lloyds Metals and Energy, headquartered in Maharashtra, is engaged in iron ore mining, direct reduced iron production, captive power generation, and pellet trading. The company supplies iron ore fines and pellets to customers worldwide.
Thriveni Pellets Pvt Ltd, the target company, is involved in the sale of iron ore pellets within India. Its wholly owned subsidiary, Brahmani River Pellets Ltd, is engaged in the production and sale of iron ore pellets across the country.
In a separate transaction, the CCI also approved a proposal by Temasek Holdings and Canada-based Caisse de dépôt et placement du Québec (CDPQ) to acquire stakes in several real estate holding entities.
The deal involves Jongsong Investments, an indirect wholly owned subsidiary of Temasek Holdings, acquiring a 20 per cent stake in each of Adamas Asset Holdings Pte Ltd, RGIP Holdings, Vikhroli Holdings, Airoli Holdings, Bangalore Asset 2 Pte Ltd, and Bangalore Asset 3 Pte Ltd, the regulator said.
Additionally, the regulator cleared a proposal by Ivanhoe Cambridge Singapore Investments II Pte Ltd (IC Singapore) to acquire a 40 per cent equity stake in Bangalore Asset 2 and Bangalore Asset 3 Pte Ltd. IC Singapore is a wholly owned subsidiary of Ivanhoe Cambridge Inc, the real estate arm of CDPQ.
Both Temasek Holdings and CDPQ are leading global investment firms with extensive interests in India’s real estate and infrastructure sectors. The entities involved in these transactions are incorporated in Singapore and primarily operate as investment holding companies with exposure to Indian property assets.
Under Indian law, mergers and acquisitions exceeding specified financial thresholds must be approved by the CCI to ensure fair competition and prevent anti-competitive practices in the market. 

The Competition Commission of India (CCI) has approved Lloyds Metals and Energy Ltd’s proposal to acquire a 49.99 per cent equity stake in Thriveni Pellets Pvt Ltd (TPPL).“The proposed combination involves the acquisition of 49.99 per cent of the equity share capital of TPPL by LMEL (Lloyds Metals and Energy Ltd),” the regulator said in its official release.Lloyds Metals and Energy, headquartered in Maharashtra, is engaged in iron ore mining, direct reduced iron production, captive power generation, and pellet trading. The company supplies iron ore fines and pellets to customers worldwide.Thriveni Pellets Pvt Ltd, the target company, is involved in the sale of iron ore pellets within India. Its wholly owned subsidiary, Brahmani River Pellets Ltd, is engaged in the production and sale of iron ore pellets across the country.In a separate transaction, the CCI also approved a proposal by Temasek Holdings and Canada-based Caisse de dépôt et placement du Québec (CDPQ) to acquire stakes in several real estate holding entities.The deal involves Jongsong Investments, an indirect wholly owned subsidiary of Temasek Holdings, acquiring a 20 per cent stake in each of Adamas Asset Holdings Pte Ltd, RGIP Holdings, Vikhroli Holdings, Airoli Holdings, Bangalore Asset 2 Pte Ltd, and Bangalore Asset 3 Pte Ltd, the regulator said.Additionally, the regulator cleared a proposal by Ivanhoe Cambridge Singapore Investments II Pte Ltd (IC Singapore) to acquire a 40 per cent equity stake in Bangalore Asset 2 and Bangalore Asset 3 Pte Ltd. IC Singapore is a wholly owned subsidiary of Ivanhoe Cambridge Inc, the real estate arm of CDPQ.Both Temasek Holdings and CDPQ are leading global investment firms with extensive interests in India’s real estate and infrastructure sectors. The entities involved in these transactions are incorporated in Singapore and primarily operate as investment holding companies with exposure to Indian property assets.Under Indian law, mergers and acquisitions exceeding specified financial thresholds must be approved by the CCI to ensure fair competition and prevent anti-competitive practices in the market. 

Related Stories

Gold Stories

Next Story
Real Estate

Kamdhenu Realities acquires 4-acre Navi Mumbai land parcel

Kamdhenu Realities has acquired a 4-acre land parcel from RPG Life Sciences on Thane-Belapur Road for approximately Rs 1.5 billion, expanding its commercial real estate portfolio in Navi Mumbai.The parcel has a total developable potential of 1.8 million sq ft, on which Kamdhenu plans to develop a destination-scale commercial and lifestyle ecosystem. The proposed development will combine corporate office suites with high-street retail, F&B outlets, double-height lobbies, business infrastructure and lifestyle amenities.Located close to IKEA and opposite the upcoming Pawane Railway Station, t..

Next Story
Infrastructure Transport

97 Per Cent Of Rongjeng-Mangsang-Adokgre Road Nears Completion

Deputy Chief Minister in-charge of public works Prestone Tynsong said in Shillong on 26 August that 97 per cent physical progress had been achieved on the ongoing Rongjeng-Mangsang-Adokgre road being constructed under the Non-Lapsable Central Pool of Resources (NLCPR). He noted the project was sanctioned in 2017 and that the stipulated time for completion had been 24 months from issue of the final work order. The deputy chief minister informed the assembly that the government had decided to include the remaining work under a World Bank project. In reply to a query from Rongjeng MLA Jim M Sangm..

Next Story
Infrastructure Transport

First TBM Starts Digging Five Point Three Kilometre Tunnel Under SGNP

The Goregaon-Mulund Link Road (GMLR) Phase three (B) project has reached a key milestone as the first tunnel boring machine (TBM) began excavation of the first of two tunnels beneath the Sanjay Gandhi National Park (SGNP). The machine, named Tulsi, started cutting a five point three kilometre bore that will link Dadasaheb Phalke Chitranagari in Goregaon East with Amar Nagar in Mulund West. Officials issued a statement noting the commencement of tunnelling work under the protected green belt. The twin tunnels are being constructed using mechanised tunnelling methods that aim to limit surface di..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code