The Competition Commission of India approves an acquisition pursuant to a shareholders Agreement (Zuari / Mangalore Fertilisers)

Introduction The Competition Commission of India (“CCI”) has approved the acquisition of Zuari Fertilisers and Chemicals Limited (“ZFCL”); and (b) Zuari Agro Chemicals Limited (“ZACL”), together referred to as the “Acquirers”, in Mangalore Chemicals and Fertilisers Limited (“MCFL”), pursuant to a Shareholders Agreement entered between the Acquirers and the United Breweries Group (“UB Group”) (comprising of United Breweries (Holdings) Limited, Kingfisher Finvest India Limited and McDowell Holdings Limited) (“Transaction”), after initiating separate proceedings for belated filing and imposing a penalty of INR 3 crores (approximately USD 0.47 million) [1] on the Acquirers. The Transaction ZFCL is a wholly-owned subsidiary of ZACL, currently setting up a Single Super Phosphate (“SSP”) plant at Mahad

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Authors

  • Shardul Amarchand Mangaldas (Mumbai)
  • Economic Laws Practice (Mumbai)

Quotation

Gauri Chhabra, Suhail Nathani, The Competition Commission of India approves an acquisition pursuant to a shareholders Agreement (Zuari / Mangalore Fertilisers), 10 February 2015, e-Competitions Bulletin February 2015, Art. N° 72365

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