May 19:The Competition Commission of India (CCI) approves the acquisition of the majority stake in SMW Ispat Private Limited by OFB Tech Private Limited.
The proposed combination envisages the acquisition of a majority stake in SMW Ispat Private Limited (SMW Ispat) by OFB Tech Private Limited (OFB Tech).
OFB Tech, a private limited company, is engaged in the business of wholesale trading of bulk raw materials such as steel, non-ferrous metals, industrial chemicals, and petroleum derivatives, agri-commodities to facilitate transactions between businesses through its online or offline channels.
SMW Ispat, a private limited company, is engaged in the business of manufacturing products such as TMT steel bars and steel billets.Disclaimer: We donot claim that the images used as part of the news published are always owned by us. From time to time, we use images sourced as part of news or any related images or representations. Kindly take a look at our image usage policy on how we select the image that are used as part of the news.