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.