CCI approves stake-buy in My Home Industries by My Home Constructions, affiliates
- Country:
- India
Fair trade regulator CCI on Friday gave its nod to acquisition of 50 per cent shares of My Home Industries Pvt Ltd by My Home Constructions and its affiliates. In India, My Home Industries is engaged in manufacturing and supply of grey cement under the brand name 'Maha Cement'.
Besides My Home Constructions, the shares will be acquired by Jupally Real Estate Developers Pvt Ltd and Rameswar Rao Jupally, promoter of My Home Group, the Competition Commission of India (CCI) said in a release. My Home Industries is a 50:50 joint venture between CRH India Investments B.V. and My Home Constructions, Jupally Real Estate Developers and Rameswar Rao Jupally.
The firm is present in Andhra Pradesh, Tamil Nadu, Kerala, Odisha, West Bengal, Bihar, Maharashtra and Jharkhand, among others, it added. Both My Home Constructions and Jupally Real Estate Developers are part of Hyderabad-based My Home Group, which is engaged in construction and real estate development, power consultancy, manufacturing and supply of grey cement, transportation and logistics, among other activities.
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