Competition Commission of India (CCI) has approved a share swap for the acquisition of the C-Flex India entities by SBP from C-Flex
The Competition Commission of India (CCI) on Monday approved the proposed combination involving the demerger of the FMCG business of Haldiram Snacks and Haldiram Foods into Haldiram Snacks Food. Haldiram Snacks Pvt Ltd (HSPL) and Haldiram Foods International Pvt Ltd (HFIPL) are engaged in the manufacturing and distribution of packaged foods products.
The proposed combination involves demerger of FMCG businesses of HSPL and HFIPL (currently housed under HSPL and HFIPL and their various associates / subsidiaries), through an NCLT-approved scheme of arrangement, according to an official release. Upon completion of the demerger, the existing shareholders of HSPL and HFIPL will acquire 56 per cent and 44 per cent shareholding in Haldirams Snacks Food Pvt Ltd (HSFPL), the release said.
Post the transaction, HSFPL a newly incorporated entity would undertake the FMCG business i.e currently undertaken by HFIPL and HSPL, respectively. The fair-trade regulator CCI also cleared the merger between Koninklijke DSM NV (DSM) and Firmenich International SA (Firmenich). DSM is the ultimate parent company of the DSM group which is active in nutrition, health and bioscience.
The proposed combination involves a merger between DSM and Firmenich to form DSM-Firmenich, a Swiss-domiciled company whose shares are proposed to be listed on Euronext Amsterdam, according to a release. Firmenich is engaged in the production and supply of fragrances, flavours, aroma chemicals, rosin resin and turpentine.
Separately, the Competition Commission of India (CCI) has approved a share swap for the acquisition of the C-Flex India entities by SBP from C-Flex. SBP Packagings (SBP) is engaged in the manufacturing of flexible packaging materials and is an affiliate of Premji Invest Group.
In another release, the regulator said it has cleared the deal. The proposed combination relates to the acquisition of entire shareholding of six entities by SBP Packagings (SBP). The regulator also approved the acquisition of certain shareholding in SBP by C-Flex.
C-Flex group is engaged in the production and sale of flexible packaging materials and is ultimately owned and controlled by Wendel SE. Deals beyond a certain threshold require the approval of CCI.