Business News | CCI Approves Acquisition of Majority Stake in SMW Ispat by OFB Tech
Get latest articles and stories on Business at LatestLY. The Competition Commission of India (CCI) on Thursday said it has approved the acquisition of a majority stake in SMW Ispat Private Limited by OFB Tech Private Limited.
New Delhi [India], May 19 (ANI): The Competition Commission of India (CCI) on Thursday said it has approved the acquisition of a majority stake in SMW Ispat Private Limited by OFB Tech Private Limited.
"The proposed combination envisages acquisition of majority stake in SMW Ispat Private Limited (SMW Ispat) by OFB Tech Private Limited (OFB Tech)," the Competition Commission of India said in a statement.
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OFB Tech, a private limited company, is engaged in the business of wholesale trading of bulk raw materials such as steel, non-ferrous metals, industrial chemicals and petroleum derivatives, agri-commodities to facilitate transactions between businesses through its online or offline channels.
SMW Ispat, a private limited company, is engaged in the business of manufacturing products such as TMT steel bars and steel billets. (ANI)
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(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)