CCI approves proposed combination involving acquisition of 100% shareholding in SMC Power Generation Limited by Rungta Sons Private Limited

CCI approves proposed combination involving acquisition of 100% shareholding in SMC Power Generation Limited by Rungta Sons Private Limited

The Competition Commission of India has approved the proposed combination involving acquisition of 100% shareholding in SMC Power Generation Limited by Rungta Sons Private Limited.

Rungta Sons Private Limited (RSPL) is a private limited company engaged in the business of mining of iron ore and manganese ore, and manufacturing of ferro alloys.

SMC Power Generation Limited (SMCPGL) is a public limited company primarily engaged in the business of manufacture and sale of sponge iron, steel billets, Thermo Mechanical Treatment (TMT) bars, pig iron and ferro alloys (specifically, silico manganese).

The proposed transaction involves RSPL acquiring 100% shareholding in SMCPGL (Proposed Combination).

Detailed order of the Commission will follow.