CCI gives Zuari green light

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The Competition Commission of India (CCI), through an order on 4 September, approved the proposed acquisition by Zuari Fertilizers and Chemicals (ZFCL) and Zuari Agro Chemicals (ZACL) of up to 26% equity in Mangalore Chemicals and Fertilizers (MCFL).

ZFCL and ZACL filed a Form I notification with the CCI on 11 June, after ZFCL’s announcement on 12 May of its proposed competing open offer to acquire up to 26% in MCFL.

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