CCI Approves Amalgamation of Mangalore Chemicals & Fertilizers with Paradeep Phosphates Limited
#MangaloreChemicalsandFertilizers #ParadeepPhosphatesLimited #Acquistion #AmalgamationMCFL is primarily engaged in the production and marketing of complex phosphatic fertilizers.
August 2024 : CCI has approved the proposed amalgamation of Mangalore Chemicals & Fertilizers with Paradeep Phosphates Limited. The competition regulator has also approved the proposed acquisition of equity shares of Mangalore Chemicals & Fertilizers Limited by Zuari Maroc Phosphates Private Limited (ZMPPL).
The Manomation campaign addresses the need for a balanced approach to alleviate the concern of Job loss due to complete automation by promoting a collaborative approach that leverages the strengths of both humans and machines. Greendzine believes that while automation is inevitable, complete automation in Indian warehouses may take longer to implement, making Manomation a viable growth strategy for the Indian warehousing industry.
Paradeep Phosphates Limited (PPL) is a company under the Adventz group of companies (Adventz group). The majority shareholding in PPL is held by ZMPPL. ZMPPL is a 50:50 joint venture between Zuari Agro Chemicals Ltd (ZACL), a company belonging to the Adventz group and OCP S.A. (OCP). PPL is primarily engaged in the production and marketing of complex phosphatic fertilizers
Mangalore Chemicals & Fertilizers Limited (MCFL) is also a company under the Adventz group. The majority shareholding of 54 percent in MCFL is held by ZACL. MCFL is primarily engaged in the production and marketing of complex phosphatic fertilizers.
ZMPPL is a 50:50 joint venture between ZACL and OCP. ZMPPL currently holds 56.08 percent equity stake in PPL. ZMPPL carries out trading of fertilizers.
The Proposed Combination comprises of: (i) the proposed amalgamation of MCFL with and into PPL, on a going concern basis (Proposed Merger); and (ii) the proposed acquisition of 3,92,06,000 equity shares of MCFL by ZMPPL from ZACL (Proposed Acquisition) (the Proposed Merger and Proposed Acquisition are collectively referred to as the Proposed Combination).
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