Fair trade regulator CCI on Tuesday cleared Indorama Netherlands BV's proposed acquisition of a 24.9 per cent stake in EPL Ltd.
"The proposed combination envisages the purchase of 24.9 per cent equity share capital of EPL Ltd by Indorama Netherlands BV," the Competition Commission of India (CCI) said in a release.
Indorama Netherlands BV is an indirect subsidiary of Indorama Ventures Public Company. EPL Ltd is engaged in the business of manufacturing and sale of packaging products, including laminated and extruded plastic tubes.
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