CCI clears Ring Plus Aqua's 59% stake buy in Maini Precision Products

Fair trade regulator CCI on Wednesday said it has granted approval to Ring Plus Aqua Ltd 's proposed acquisition of a 59.25 per cent stake in Maini Precision Products Ltd. Maini Precision Products Ltd (MPPL) is engaged in the manufacturing of precision products for different industries and manufacturers. "The proposed combination inter-alia envisages the acquisition of 59.25 per cent shareholding in MPPL by RPAL, the acquisition of the entire shareholding of JK Files & Engineering Ltd in JK Talabot Ltd by a wholly-owned subsidiary of Raymond Ltd (New Company), and merger of RPAL, MPPL and the engineering business of JK Files into the new company, " CCI said in a release.