The latest stake buy news at this hour- Lloyds Metals and Energy plans to acquire a 49.99% equity stake in Thriveni Pellets. The Competition Commission of India (CCI) has approved the acquisition on Tuesday, October 7.
Lloyds Metals gets CCI nod
The proposed transaction involves Lloyds Metals and Energy buying nearly half of Thriveni Pellets’ share capital. The CCI said the deal does not raise any competition concerns in the market. A detailed order from the regulator will be issued later.
Share price of Lloyds Metals and Energy
The share price of Lloyds Metals and Energy has surged 4.42% so far this year.
The company originally incorporated as an iron ore mining company, now operates across multiple segments. Its businesses include iron ore mining, Direct Reduced Iron (DRI) production, captive power generation, and pellet trading. The company also supplies iron ore fines and pellets to various domestic and international buyers.
Thriveni Pellets primarily engaged in the sale of iron ore pellets in India. Its wholly owned subsidiary, Brahmani River Pellets, manufactures and sells iron ore pellets within the country.