New Delhi: The Competition Commission of India (CCI) approves acquisition of the Zuarinagar plant of Zuari Agro Chemicals Limited by Paradeep Phosphates Limited.
The proposed combination envisages acquisition of Zuarinagar, Goa plant of Zuari Agro Chemicals Limited (ZACL) by Paradeep Phosphates Limited (PPL). As a result of the acquisition, PPL shall acquire business of developing and manufacturing urea and non-urea fertiliser products presently being carried out by ZACL at the Zuarinagar, Goa Plant
PPL, part of the Adventz Group, is engaged mainly in the manufacture and sale of non-Urea fertilizers, namely, di-ammonium phosphate (DAP) and NPK fertilizers. It also imports and sells Muriate of Potash (MoP).
ZACL, a public listed company, is also a part of the Adventz Group. It is primarily engaged in the development and manufacturing of fertilizers in India. It has manufacturing facilities at Zuarinagar, Goa where it produces Urea and non-Urea fertilizers.
Detailed order of the CCI will follow.