CCI authorises purchase stake of NIIF in Hindustan Ports
14 Feb 2023 CW Team
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.