Thyssenkrupp Industries India mainly provides engineering, procurement and construction services to execute turnkey projects in various industries and after-sales services, the antitrust regulator said in a statement.
The Competition Commission of India (CCI) said on Tuesday it has cleared the acquisition of additional stake in Thyssenkrupp Industries India by Protos Engineering Company and Paharpur Cooling Towers.
Thyssenkrupp Industries India mainly provides engineering, procurement and construction services to execute turnkey projects in various industries and after-sales services, the antitrust regulator said in a statement. It also manufactures and sells various industrial products and undertakes operation and maintenance for plants.
Protos acts as an agent for companies that manufacture equipment, machinery and raw materials in sectors, including steel, cement and sugar. It is also the sole selling agent of Thyssenkrupp Industries India. Paharpur is engaged in the manufacture and sale of industrial cooling systems, generation of power through wind and non-banking financial services, the regulator said in a statement.
Separately, the CCI has also approved the acquisition of stake in PAMP Technologies (India) and MMTC PAMP India by PAMP Ventures SA.
PAMP Ventures SA of Switzerland had proposed to acquire a 100% stake in PAMP Technologies (India) and 72.65% (on a fully diluted basis) of MMTC PAMP India, according to the regulator’s statement.
Source: The Economic Times
