The Competition Commission of India (CCI) has approved Jaiprakash Associates’ proposed sale of its cement grinding unit at Panipat, located in Haryana state, to Shree Cements. In a statement released on 18 November, the CCI noted that the proposed transaction is not likely to raise anti-competition concerns in India in any of the relevant markets.
According to the statement, the proposed deal involves the transfer of Jaiprakash Associates’ 1.5 million tpa cement grinding unit at Panipat to Shree Cements "on a going concern basis by way of a slump sale". Shree Cements’ market share in terms of installed capacity is 23%. If the transaction goes ahead, the manufacturer’s market share will reportedly increase to around 26%.
Edited from various sources by Rosalie Starling
Read the article online at: https://www.worldcement.com/asia-pacific-rim/19112014/cci-approves-jp-associates-proposed-sale-of-haryana-assets-880/