The Competition Commission of India (CCI) green lighted planned merger of Mangalore Chemicals and Fertilizers (MCFL) with Paradeep Phosphates Ltd (PPL).
MCFL, part of the Adventz group, specializes in producing and marketing complex phosphatic fertilizers. Zuari Agro Chemicals Ltd holds a 54.03% stake in MCFL.
The CCI has sanctioned the merger of MCFL with PPL. Additionally, CCI has approved the proposed acquisition of equity shares of MCFL by Zuari Maroc Phosphates Pvt Ltd (ZMPPL) from Zuari Agro Chemicals Ltd (ZACL).
ZMPPL is a 50:50 joint venture between ZACL, a member of the Adventz group, and OCP SA. As reported by msn.com, Paradeep Phosphates Ltd, also under the Adventz group and ZMPPL, focuses on the production and marketing of complex phosphatic fertilizers.
