The Competition Commission of India (CCI) has approved acquisition of stake in PAMP Technologies (India) Private Ltd (PAMP Technologies) and MMTC PAMP India Private Ltd by PAMP Ventures SA .

The proposed combination relates to the acquisition by PAMP Ventures SA (PAMP Switzerland/Acquirer) of 100 per cent of the share capital of PAMP Technologies and 72.65 per cent of the share capital (on a fully-diluted basis) of MMTC PAMP India Private Ltd (MMTC PAMP).

The proposed combination is an internal group restructuring, through which MKS PAMP Group Ltd (ultimate parent entity of the MKS PAMP Group) is transferring its indirect shareholdings in the ‘Targets’ — PAMP Technologies and MMTC PAMP to the acquirer.

PAMP Switzerland is a holding company and does not undertake any operational activities on its own. PAMP Technologies captively provides IT services to only MKS PAMP Group companies.

MMTC PAMP is engaged in the business of refining gold and silver. It also sells gold and silver products such as coins and bars.

Thyssenkrupp Industries 

The CCI has approved the acquisition of additional shareholding of Thyssenkrupp Industries India Private Ltd (Target) by Protos Engineering Company Private Ltd (Protos) and Paharpur Cooling Towers Ltd (Paharpur).

Protos is engaged in acting as an agent for companies that manufacture: equipment, machinery and raw materials in various sectors such as steel, cement, sugar, etc; and several industrial products. It is also the sole selling agent of Target. It identifies customers from the sugar industry who wish to buy sugar equipment/plants from Target and earns a commission from Target for such an arrangement.

Protos group is engaged in providing industrial inspection services and industrial certification services.

Paharpur is engaged in the manufacture and sale of industrial cooling systems, generation of power (through wind) and non-banking financial services.

Paharpur group is engaged in the: development, rental and marketing of commercial and residential real estate projects; and manufacture, and sale of: flexible packaging, pouches and retort pouches; and industrial valves and industrial pumps in India. 

Target is engaged in providing: Engineering, Procurement and Construction (EPC) services to execute turnkey projects in various industries and aftersales services; manufacture and sale of various industrial products; and operation and maintenance for plants.