Companies

CCI gives “deemed approval” for Synergy Metals stake buy in JSW Cement

Our Bureau New Delhi | Updated on July 14, 2021

Green channel route to improve merger regulations

The Competition Commission of India (CCI) has “deemed approved” a green channel notice by Synergy Metals Investments Holding relating to acquisition of equity stake in JSW Cement.

Synergy Metals Investments, which is a Dubai-based investment fund that is part of Synergy Metals and Mining Fund I LP (Synergy Fund), is understood to have picked a minority stake in the cement maker. It maybe recalled that JSW Cement was incorporated in 2006 as a cement manufacturer and trader.

“Commission receives green channel notice by Synergy Metals Investments Holding relating to acquisition of equity stake in JSW Cement and is deemed approved,” said a tweet from the CCI on Wednesday.

A green channel route — effective from August 15, 2019– was introduced to improve merger regulations. It is aimed to sustain and promote a fast, transparent and liable review of combination cases. It was introduced for speedier approval of clearing certain mergers and acquisitions. This will help avoid waiting period for the eligible transactions.

Published on July 14, 2021

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