Shell: Shell seeks CCI approval for Raj Petro acquisition

Shell has filed for approval from the Competition Commission of India (CCI) to acquire a 100% equity stake in Raj Petro Specialities Private Limited. "We can confirm that we have reached an agreement to acquire Raj Petro Specialities from the Brenntag Group. The transaction is subject to regulatory approval," according to a Shell spokesperson. The Competition Commission of India is a statutory body established under the Competition Act, 2002, to promote and sustain competition in the Indian market, prevent anti-competitive practices, and protect the interests of consumers. It plays a vital role in ensuring fair competition across industries, fostering economic efficiency, and encouraging innovation. Shell Deutschland GmbH and Shell Overseas Investments B.V., both subsidiaries of the Shell Group, have jointly sought regulatory clearance under the CCI's combination regulations, rules and guidelines that govern the regulation and approval of mergers, acquisitions, amalgamations, and other combinations. Officially known as Shell plc, Shell Group is one of the largest multinational energy companies in the world and the global leader in the lubricants market. Headquartered in London, United Kingdom, Shell is involved in nearly all aspects of the energy industry, from oil and gas exploration and production to renewable energy solutions and cutting-edge technologies. In India, Shell serves industries such as automotive, pharmaceuticals, and industrial manufacturing. By bringing Raj Petro under the Shell umbrella, the company intends to leverage Raj Petro's expertise in hydrocarbon-based speciality products to enhance its global portfolio. About Raj Petro Specialities Raj Petro Specialities Pvt Ltd, founded in 1957, is [...]The post Shell seeks CCI approval for Raj Petro acquisition appeared first on F&L Asia.