Fair trade regulator CCI has approved an amalgamation involving Aarti IndustriesBSE 2.93 % and four promoter group firms, saying the deal will not raise anti- competition concerns. Aarti is in the business of chemicals, agro chemicals, bulk pharmaceuticals and speciality chemicals. The company’s four promoter group firms – Gogri & Sons InvestmentsBSE -1.35 %, Alchemie Leasing And Financing, Anushakti Holdings and Anushakti Chemical and Drugs – are not engaged in any manufacturing activities. In an order dated July 23, the Competition Commission of India said: “The proposed combination is not likely to have an appreciable adverse effect on competition in India. “…the transferor companies (4 promoter group firms) are the promoters group companies of Aarti Industries and as a result of the proposed combination, the promoter shareholders of the transferor companies who are also inter-alia the promoters of the transferee company shall directly hold shares in the transferee company.”
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