The Competition Commission of India has approved the acquisition of 49.99% equity share capital of Thriveni Pellets Private Limited (TPPL/Target) by Lloyds Metals and Energy Limited (LMEL/Acquirer).

The ‘Proposed Combination’ involves the acquisition of 49.99% of the equity share capital of TPPL by LMEL.

LMEL was incorporated as an iron ore mining company. Currently, its business segments include: (a) iron ore mining; (b) Direct Reduced Iron (DRI) production; (c) generation of captive power; and (d) pellet trading. LMEL supplies iron ore fines and pellets mined / produced around the world.

TPPL is engaged in the sale of iron ore pellets in India. TPPL’s wholly owned subsidiary, Brahmani River Pellets Limited, is engaged in production and sale of iron ore pellets in India.

Detailed order of the Commission will follow.

Acquisition of Thriveni Pellets: Lloyds Metals to acquire 49.99% equity stake in pellet producer involving iron ore mining, DRI, power. The Competition Commission approved Lloyds Metals and Energy Limited's acquisition of 49.99% of Thriveni Pellets Private Limited, a minority equity acquisition in an Indian iron ore pellet producer. Lloyds Metals operates in iron ore mining, DRI production, captive power generation and pellet trading and supplies iron ore fines and pellets internationally. Thriveni Pellets, and its wholly owned subsidiary Brahmani River Pellets Limited, are engaged in the sale and production of iron ore pellets in India. A detailed order will follow.