PAMP Ventures SA receives CCI approval for stake acquisition in PAMP Technologies and MMTC PAMP India

The Competition Commission of India (CCI) has given the green light for the acquisition of stake in PAMP Technologies and MMTC PAMP India by PAMP Ventures SA. The acquisition involves PAMP Ventures SA obtaining 100% of the share capital of PAMP Technologies and 72.65% of the share capital of MMTC PAMP India Private Ltd. This move is part of an internal group restructuring by MKS PAMP Group Ltd, the ultimate parent entity of the MKS PAMP Group.

PAMP Technologies, a company providing IT services exclusively to MKS PAMP Group companies, will see a change in ownership as a result of this acquisition. On the other hand, MMTC PAMP India Private Ltd, which is involved in refining gold and silver and selling related products like coins and bars, will also experience a shift in its shareholding structure.

In a separate development, the CCI has also approved the acquisition of additional shareholding in Thyssenkrupp Industries India Private Ltd by Protos Engineering Company Private Ltd and Paharpur Cooling Towers Ltd. Protos, which acts as an agent for companies manufacturing equipment and machinery in various industries, will now have a greater stake in Thyssenkrupp Industries India Private Ltd. Paharpur Cooling Towers Ltd, engaged in the manufacture and sale of industrial cooling systems, will also be part of this acquisition deal.

Both these acquisitions have received the necessary approval from the CCI, marking significant developments in the business landscape of these respective industries. The acquisitions are set to bring about changes in the ownership structure and operational dynamics of the companies involved, as they navigate these strategic moves in the market.