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CCI authorises purchase stake of NIIF in Hindustan Ports

Tuesday 14th Feb 2023    224
CCI authorises purchase stake of NIIF in Hindustan Ports
 

The Competition Commission of India (CCI) has approved the national investment and infrastructure funds acquisition of a stake in Hindustan Ports Pvt Ltd. (NIIF). In addition, the regulator gave the green light. for Hindustan Infralog Pvt Ltd (HIPL) to consolidate with HPPL. Hipl's proposed merger with HPPL and the acquisition of up to 25% of HPPL by National Investment and Infrastructure Fund were both approved, the CCI said in a tweet. In June last year, NIIF announced that it had invested Rs 22.50 billion in HPPL, a local arm of DP global in the UAE. Sponsored and anchored by the government, NIIF is an alternative mutual fund. Both HIPL and HPPL offer services for container terminals. The agency stated in a second tweet that it had approved the purchase by the Megha Engineering and Infrastructures Ltd (MEIL) group of the entire share investment of Lanco Anpara Power Ltd (LAPL). While MEIL is active in engineering, procurement and construction in numerous industries, LAPL is engaged in the production of thermal energy.

 
 
 
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