The Competition Commission of India (CCI) has approved AMG India to acquire NFCL Assets and 100% shareholding of ZeroC, using funds from various entities, including AMG Entities, BSI, Gentari, and Platinum Rock.
The involved entities are:
- AM Green B.V. (AMG), AM Green Ammonia Holdings B.V. (AMGAH), AM Green Ammonia B.V. (AMGA), and AM Green Ammonia (India) Private Limited (AMG India), collectively known as “AMG Entities.”
- Baker Street Investment Pte. Ltd. (BSI), a Singapore-based private limited company managed by GIC Special Investments Private Limited.
- Gentari International Renewables Pte. Ltd. (Gentari), a clean energy company under the PETRONAS Group.
- Platinum Rock B 2014 RSC Limited (Platinum Rock), acting as trustee of the Platinum Stone A 2014 Trust, an investment entity with global investments.
- Greenko ZeroC Private Limited (ZeroC), the target company not currently engaged in revenue-generating activities in India.
- Nagarjuna Fertilizers and Chemicals Limited (NFCL), a publicly listed company specializing in urea manufacturing and micro-irrigation products.
The proposed acquisition involves taking over NFCL Assets and full ownership of ZeroC. NFCL Asset Acquisition entails transferring assets used in urea and micro-irrigation businesses, while ZeroC Acquisition involves obtaining complete ownership of ZeroC. The transaction is planned to be executed through an asset sale.
Further details on the CCI’s decision will be included in the comprehensive order.
