CCI greenlights PCBLs takeover of Aquapharm Chemicals

The Competition Commission of India (CCI) has approved the proposed acquisition of a 100% stake in Aquapharm Chemicals by PCBL Ltd, a leading specialty chemicals company. The deal was cleared under the green channel route, which deems transactions that pose no significant risk to competition as approved upon notification to the fair-trade regulator.

About the Companies

PCBL Ltd, formerly known as Phillips Carbon Black Ltd, is involved in the manufacturing and sale of carbon black and green power generation. Aquapharm Chemicals Pvt Ltd (ACPL), on the other hand, is a Pune-based specialty chemicals company specializing in manufacturing and water treatment chemicals.

No Competition Concerns

According to the CCI, the activities of PCBL and ACPL do not exhibit any horizontal, vertical, or complementary overlaps in any relevant markets in India. Therefore, the proposed combination was notified under the green channel route, indicating a low risk of adverse effects on competition.

Acquisition Details

In November 2022, PCBL Ltd announced its plans to acquire the entire stake in ACPL for a total consideration of Rs 3,800 crore. The completion of this transaction will make Aquapharm Chemicals a wholly-owned subsidiary of PCBL Ltd.

The CCI's approval of PCBL's acquisition of Aquapharm Chemicals marks a significant step forward in the expansion of PCBL's specialty chemicals portfolio. With this acquisition, PCBL aims to strengthen its position in the Indian chemicals industry and diversify its product offerings.