CCI Clears Lloyds Metals' Acquisition Of Thriveni Earthmovers And Infra

The Competition Commission of India has cleared Lloyds Metals and Energy Ltd.’s proposed acquisition of a 79.82% stake in Thriveni Earthmovers and Infra Pvt. Ltd., the antitrust regulator said in a press release on Tuesday.

Lloyds Metals' board had approved the ₹700-million deal on December 18, according to an earlier exchange filing.

The regulator also approved Thriveni Earthmovers and Infra’s proposed acquisition of a majority stake in Lloyds Surya Pvt. Ltd., a wholly owned arm of Lloyds Metals.

Additionally, it cleared the demerger of the mining development and operations business of Thriveni Earthmovers Pvt. Ltd. into Thriveni Earthmovers and Infra.