CCI Approves Amalgamation of Mangalore Chemicals & Fertilizers with Paradeep Phosphates and Acquisition by Zuari Maroc Phosphates

ZMPPL, a 50:50 joint venture between ZACL and OCP, holds a 56.08% equity stake in PPL and is involved in fertilizer trading.

The Competition Commission of India (CCI) has given its approval for the proposed amalgamation of Mangalore Chemicals & Fertilizers Limited (MCFL) with Paradeep Phosphates Limited (PPL), as well as the acquisition of equity shares of MCFL by Zuari Maroc Phosphates Private Limited (ZMPPL).

PPL, part of the Adventz group, specializes in the production and marketing of complex phosphatic fertilizers. It is majority-owned by ZMPPL, a joint venture equally held by Zuari Agro Chemicals Ltd (ZACL) and OCP S.A. (OCP). MCFL, also part of the Adventz group, similarly focuses on complex phosphatic fertilizers and is predominantly owned (54.03%) by ZACL.

ZMPPL, a 50:50 joint venture between ZACL and OCP, holds a 56.08% equity stake in PPL and is involved in fertilizer trading.

The proposed combination involves:

The amalgamation of MCFL with PPL, effectively integrating MCFL into PPL on a going concern basis.

The acquisition of 3,920,600 equity shares of MCFL by ZMPPL from ZACL.

This merger and acquisition aim to consolidate the operations within the Adventz group and strengthen its position in the phosphatic fertilizer market.