CCI approves Haldiram group merger plan

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The Competition Commission of India (CCI) on Monday approved the proposed combination involving spin-off of FMCG businesses of Haldiram Snacks and Haldiram Foods into Haldiram Snacks Food.

Haldiram Snacks Pvt Ltd (HSPL) and Haldiram Foods International Pvt Ltd (HFIPL) are engaged in the manufacture and distribution of packaged food products.

The proposed merger involves separating the consumer goods businesses of HSPL and HFIPL (currently under HSPL and HFIPL and their various associates/subsidiaries), through an NCLT approved arrangement scheme, according to an official release.

Upon completion of the separation, existing HSPL and HFIPL shareholders will acquire 56 per cent and 44 per cent stakes in Haldirams Snacks Food Pvt Ltd (HSFPL), the statement said.

Following the transaction, HSFPL, a newly formed entity, will take over the FMCG business currently being conducted by HFIPL and HSPL, respectively.

The fair trade regulator CCI has also cleared a merger between Koninklijke DSM NV (DSM) and Firmenich International SA (Firmenich). DSM is the ultimate parent company of the DSM Group, which is active in the fields of Nutrition, Health and Biosciences.

The proposed combination includes a merger between DSM and Firmenich to form DSM-Firmenich, a Swiss-based company whose shares are proposed to be listed on Euronext Amsterdam, according to the statement.

Firmenich is engaged in the production and supply of perfumes, flavors, aromatic chemicals, rosin and turpentine.

Separately, the Competition Commission of India (CCI) has approved a share swap for the acquisition of C-Flex India entities by SBP from C-Flex. Flexible packaging materials are manufactured by SBP Packagings (SBP) and is a subsidiary of Premji Invest Group.

In another statement, the regulator said it had closed the deal. The proposed merger relates to the acquisition of a full stake in six entities by SBP Packagings (SBP).

The regulator also approved C-Flex’s acquisition of some shares in SBP.

The C-Flex Group is engaged in the production and sale of flexible packaging materials and is ultimately owned and controlled by Wendel SE. Transactions above a certain threshold require CCI approval.