CCI Greenlights Tata and Mercuria Joint Venture

The Competition Commission of India (CCI) on Tuesday approved a proposal to set up a joint venture between Mercuria Energy Netherlands BV and Tata International Singapore (Pte) Ltd.

The approval came after Tata International Ltd in February announced signing of the JV pact with Mercuria Energy Group, one of the world's largest integrated energy and commodities groups.

CCI stated it has cleared the proposed deal, facilitating the creation of a global trading business across multiple commodities including energy, metals, agricultural, oil and gas, and environmental products.

Tata International, part of the Tata Group, is the global trading and distribution arm poised to benefit greatly from this strategic collaboration.

(With inputs from agencies.)