CCI erases Lloyds Metals’ proposal to acquire a participation of 49.9% in Thriveni Pellets

The CCI fair trade regulator has erased Lloyds Metals on Tuesday and the energy proposal to acquire a participation of 49.99% in Thriveni Pellets PVT Ltd.

“The proposed combination implies the acquisition of 49.99% of the share capital of TPPL (Thriveni Pellets PVT LTD) by LMEL (Lloyds Metals and Energy LTD)”, said the regulator in a press release.

The LMEL is engaged in the activity of the operation of iron ore, direct production of reduced iron, the generation of captive power and the trading of pellets. It provides iron ore fines and extracted / product pellets around the world.

The Commission approves the acquisition of 49.99% participation in Actions of Thriveni Pellets PVT LTD (TPPL / Target) by Lloyds Metals and Energy LTD, “said the Competition Commission of India (CCI).

TPPL is engaged in the sale of iron ore meshes in India. The subsidiary in exclusive ownership of TPPP, Brahmani River Pellets LTD, is engaged in the production and sale of iron ore meatballs in India.

In a separate agreement, CCI approved the CDPQ proposal for Temasek Holdings and Canada to acquire participations in several real estate entities.

The proposed combination implies the acquisition of a 20% participation in each of the Adamas Asset Holdings PTE LTD, RGIP Holdings, Vikhrol Holdings and Airoli Holdings, as well as 20% in Bangalore Asset 2 PTE LTD and Bangalore Asset 3 PTE LTD by Jongsong Investments, said the regulator.

Jongsong Investments is an indirect subsidiary in exclusive property of Temasek Holdings.

In addition, the regulator also gave its wink to Ivanhoe Cambridge Singapore Investments II Pte Ltd (Singapore IC) of 40% of share capital in equity in Bangalore Asset 2 and Bangalore Asset 3 PTE LTD, according to the press release.

IC Singapore is an indirect subsidiary in exclusive property of Ivanhoe Cambridge Inc (IC inc). Ivanhoe Cambridge is the real estate subsidiary of Depot and Placement du Québec (La Caisse), head of the Canadian Institutional Fund.

The entities involved in the transaction are incorporated into Singapore and are mainly engaged in investment detention activities, including in the real estate sector in India.

Transactions beyond a certain threshold require the control of the regulator, which maintains a tab on unfair commercial practices and promotes fair competition on the market.