The Competition Commission of India (CCI) on Tuesday said it has cleared Rhone cleared Rhone Capital's proposed acquisition of a 29.9 per cent stake in RHI Magnesita NV by Ignite Luxembourg Holdings.
Ignite Luxembourg Holdings is owned and controlled by US-based private equity firm Rhone Capital, which is an affiliate of Rhone Group.
In a tweet on Tuesday, CCI said it has approved the "acquisition of up to 29.9 per cent equity shares of RHI Magnesita NV by Ignite Luxembourg Holdings S.a r.l ..
RHI Magnesita NV conducts its business through its subsidiary RHI Magnesita India Ltd and offers isostatically pressed continuous casting refractories, slide gate plates, nozzles and well blocks.
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