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.
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