The Competition Commission of India (CCI) on Tuesday said it has approved Woodhall Holdings Ltd’s acquisition of a minority stake in UPL Sustainable Agri Solutions Ltd (UPL SAS). The deal has been cleared under the green channel route. Under this framework, transaction which does not raise any risk of an appreciable adverse effect on competition is deemed to be approved on being intimated to the fair trade regulator.
Woodhall Holdings Ltd (WHL) is a special purpose vehicle and part of Brookfield Asset Management.
In a release, CCI said it has cleared the deal.
In October, UPL announced that Brookfield along with other investors will invest Rs 1,580 crore for a 9.09 per cent stake in its agri-tech platform UPL SAS.
“Given that there are no overlaps between the parties to the proposed transaction, it does not raise any risk of an appreciable adverse effect on competition in any relevant market(s) in India. Therefore, the proposed transaction is being notified under the green channel route,” CCI said.
UPL SAS is an Indian agro-chemical company engaged in the manufacture, marketing, and sales of various agro-chemicals such as insecticides, herbicides, and anti-sprouting agents.