Ring plus Aqua Acquires Major Shares in Maini Precision Products

  • The Competition Commission of India (CCI) has approved the acquisition of 59.25% shareholding in MPPL by Ring plus Aqua Limited (RPAL). 
  • The proposed combination includes RPAL’s acquisition of MPPL, RPAL’s acquisition of JK Files & Engineering Limited’s shareholding in JK Talabot Limited (JKTL), and a merger of RPAL, MPPL, and JK Files into the New Company. 
  • Raymond Limited and its subsidiaries manufacture and sell various products, while JK Files manufactures hand tools, files, and cutting tools. 
  • RPAL, a subsidiary of JK Files, manufactures and exports ring gears, flex plates, and water pump bearings.
Posted in Current Affairs.