CCI authorises purchase stake of NIIF in Hindustan Ports

The Competition Commission of India (CCI) approved National Investment and Infrastructure Fund's acquisition of a stake in Hindustan Ports Pvt Ltd. (NIIF). Additionally, the regulator gave the go-ahead for Hindustan Infralog Pvt Ltd (HIPL) to consolidate with HPPL. The proposed merger of HIPL with HPPL and the acquisition of up to 25% of HPPL by National Investment and Infrastructure Fund were both approved, the CCI stated in a tweet. In June last year, NIIF announced that it had invested Rs 22.50 billion in HPPL, a local branch of DP global in the UAE. Sponsored and anchored by the government, NIIF is an alternative investment fund. Both HIPL and HPPL offer services for container terminals. The agency stated in a second tweet that it had approved the Megha Engineering and Infrastructures Ltd (MEIL) group's purchase of Lanco Anpara Power Ltd's (LAPL) whole equity investment. While MEIL is active in engineering, procurement, and construction in numerous industries, LAPL is concerned in the production of thermal power.

Related Stories

Ambuja Cements seeks CCI approval to acquire majority stake in Orient
Niti member: Better to get Chinese firms to invest in India
Delhi HC upholds CCI decision of Vistara-Air India merger
REC Transfers HVDC Project to Power Grid
NF Railway Collaborates with IIT Guwahati