India, May 13 -- The Government of India issued the following news release:
The Competition Commission of India has approved the combination inter alia envisaging demerger of MDO Business of Thriveni Earthmovers into Thriveni Earthmovers and Infra; and acquisition of shares of Thriveni Earthmovers and Infra by Lloyds Metals and Energy.
The combination envisages demerger of mining development and operations (MDO) business of Thriveni Earthmovers Private Limited (TEMPL) into Thriveni Earthmovers and Infra Private Limited (TEIPL); acquisition of 79.82% shareholding in TEIPL by Lloyds Metals and Energy Limited (LMEL); and acquisition of majority shareholding in Lloyds Surya Private Limited (Lloyds Surya) by TEIPL.
TEMPL, through its MDO Busi...