CCI Approves AMG India to acquire NFCL Assets and ZeroC
#NagarjunaFertilizers #Acquisition #CompetitionCommissionofIndiaNFCL is engaged in manufacturing of urea and micro-irrigation products.
April 2024: : The Competition Commission of India (CCI) has approved the proposed acquisition of NFCL Assets and 100 percent shareholding of ZeroC by AMG India using proceeds of investments received from the AMG Entities, BSI, Gentari, and Platinum Rock.
Nagarjuna Fertilizers and Chemicals Limited (NFCL) is a public listed company specializing in urea manufacturing and micro-irrigation products. It has one urea manufacturing plant in Kakinada, Andhra Pradesh and three micro irrigation manufacturing plants, namely two in Telangana (i.e., Nacharam and Sadashivpet) and one in Halol, Gujarat. NFCL Assets refers to certain assets of NFCL presently used for the urea and micro-irrigation business.
The Proposed Combination involves: (i) Acquisition of the NFCL Assets by AMG India using proceeds of investments received from the AMG Entities, BSI, Gentari, and Platinum Rock. The NFCL Asset Acquisition is proposed to be achieved through an asset sale; and (ii) Acquisition of 100 percent shareholding of ZeroC by AMG India using proceeds of investments received from the AMG Entities, BSI, Gentari, and Platinum Rock.
AM Green B.V. (AMG), AM Green Ammonia Holdings B.V. (AMGAH), AM Green Ammonia B.V. (AMGA), AM Green Ammonia (India) Private Limited (AMG India) are collectively referred to as “AMG Entities”. BSI is organized as a private limited company in Singapore that is part of a group of investment holding companies managed by GIC Special Investments Private Limited. Gentari is a newly incorporated clean energy company controlled by the PETRONAS Group.Platinum Rock has made several investments across the world (including in India) in various sectors including infrastructure, such as transportation, utilities, energy and fund investments in the infrastructure sector.
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