CCI Approves Major Stake Acquisitions in Iron Ore and Realty Sectors

The Competition Commission of India (CCI) on Tuesday sanctioned Lloyds Metals and Energy's proposal to acquire a 49.99% equity stake in Thriveni Pellets Pvt Ltd. This strategic move consolidates LMEL's position in the iron ore sector, enhancing their reach in mining and pellet trading operations.

Moreover, CCI greenlit the acquisition of stakes by Temasek Holdings and Canada-based CDPQ in various realty firms. Jongsong Investments, a subsidiary of Temasek, will acquire a 20% stake in entities like Adamas Asset Holdings and Bangalore Asset entities, while Ivanhoe Cambridge will acquire substantial equity in Bangalore-based firms.

These transactions underline significant investment flows into India's iron ore and real estate sectors, approved by CCI to maintain market fairness and promote healthy competition, underlining India's openness to foreign investment in these key areas.

(With inputs from agencies.)