India, May 27 -- The Competition Commission of India (CCI) has approved the merger of Indovida India Private Limited with EPL Limited.
The transaction involves the absorption of Indovida India into EPL Limited, following which EPL, as the resultant entity, will issue shares to the shareholders of Indovida India on a proportionate basis.
Indovida India is a wholly owned subsidiary of Indorama Netherlands BV and forms part of the Indorama Ventures Public Company Limited (IVL) Group. The IVL Group operates globally across sectors including fibres, packaging, recycling and specialty chemicals.
EPL Limited, a listed Indian company, is engaged in the manufacturing and sale of packaging products. The merger is expected to strengthen operational...