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CCI approves acquisition of Avana Logistek Ltd, Transworld Feeders Pvt. Ltd & Transworld Feeders FZCO by Unifeeder ISC FZCO


The Competition Commission of India (CCI) has approved the acquisition of Avana Logistek Ltd, Transworld Feeders Pvt. Ltd and Transworld Feeders FZCO by Unifeeder ISC FZCO. 


The proposed combination envisages acquisition of stake in Avana Logistek Ltd (Avana), Transworld Feeders Pvt. Ltd (TFPL) and Transworld Feeders FZCO by Unifeeder ISC FZCO (Unifeeder), CCI informed in a release.


Unifeeder is indirectly held by DP World, forming part of DPW Group. In India, Unifeeder is present through its subsidiaries, Feedertech Pte. Ltd (Feedertech) and Perma Shipping Line Pte. Ltd. Feedertech provides ex-im feeder services and Perma Shipping Line provides ex-im non-vessel owning common carrier (NVOCC) services.


The business of Avana comprises multimodal domestic coastal services and NVOCC solutions. Presently, TFPL is not engaged in any business activities in India. However, under the proposed combination, TFPL would acquire the ex-im feeder shipping business of Shreyas Shipping and Logistics Ltd, the release said. 

 

Source: Exim News Service: New Delhi, June 9

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