 "Competition Comm approves NIIF's stake purchase in Hindustan Ports")
The Competition Commission of India (CCI) on Thursday cleared the acquisition of stake in Hindustan Ports Pvt Ltd by National Investment and Infrastructure Fund (NIIF).
The proposed transaction relates to NIIF's acquisition of up to 25 per cent in Hindustan Ports Pvt Ltd (HPPL).
The regulator also approved the merger of Hindustan Infralog Pvt Ltd (HIPL) into HPPL.
In a tweet on Thursday, the CCI said it has approved the "acquisition of up to 25 per cent shareholding in HPPL by National Investment and Infrastructure Fund and proposed merger of HIPL into HPPL".
Last year in June, NIIF said it has invested Rs 2,250 crore in HPPL, a local arm of UAE's DP world.
NIIF is an alternative investment fund and is sponsored and anchored by the government. HIPL and HPPL are engaged in providing container terminal services.
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In a separate tweet, the watchdog said it has given its nod to acquisition of 100 per cent equity shareholding of Lanco Anpara Power Ltd (LAPL) by Megha Engineering and Infrastructures Ltd Group (MEIL).
LAPL is engaged in thermal power generation while MEIL is involved in engineering, procurement and construction in various industries.
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