The Competition Commission of India (CCI) has approved the merger of Mangalore Chemicals & Fertilisers Ltd (MCFL) with Paradeep Phosphates Ltd (PPL). MCFL, part of the Adventz group, makes and sells complex phosphatic fertilizers, and Zuari Agro Chemicals Ltd holds 54.03% of its shares.
Additionally, CCI approved Zuari Maroc Phosphates Pvt Ltd (ZMPPL) buying 39.2 million shares of MCFL from Zuari Agro Chemicals Ltd. ZMPPL is a joint venture between Zuari Agro Chemicals Ltd and OCP SA, each owning 50%.
Paradeep Phosphates Ltd, also part of the Adventz group, focuses on producing and marketing complex phosphatic fertilizers. ZMPPL holds a 56.08% stake in PPL.
The CCI ensures fair competition and monitors business practices in the market. It also approved Bunge Global SA’s acquisition of 100% of Viterra Ltd. After this deal, Viterra’s main shareholders will own minority stakes in Bunge.
Bunge sells oilseed meals, vegetable oils, grains, and other products like sugar. Viterra focuses on buying and selling grains, oilseeds, and similar products.
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