The Competition Commission of India (CCI) has approved acquisition of Indo Gulf Fertilisers by Indorama India Private Limited (IIPL) under Section 31(1) of the Competition Act, 2002.
IIPL is principally engaged in manufacture, trading and sale of fertilisers, primarily, phosphatic fertilisers and speciality plant nutrients. While, Gramin Industries Limited (GIL) is engaged in production of viscose staple fibre, chloralkali, fertiliser, textiles and insulators including producing cement and providing financial services through its subsidiaries.
The proposed combination relates to the acquisition by IIPL of Indo Gulf Fertilizers the fertiliser division of Grasim Industries Limited (‘GIL/Seller’), as a going concern on a slump sale basis.
The Target Business is principally engaged in manufacture, trade and sale of urea, customised fertilisers, agri-inputs, crop protection, plant and soil health products and specialty fertilizers.