New Delhi: Fair trade watchdog CCI has approved setting up of an
integrated aviation fuel facility in Mumbai by a joint venture of three
state-owned oil firms and Mumbai International Airport Pvt Ltd after
they agreed to put in place measures to prevent anti-competitive
practices.
Indian Oil Corp Ltd, Bharat Petroleum Corporation Ltd, Hindustan Petroleum Corporation Ltd and Mumbai International Airport Pvt Ltd would form an equal joint venture.
Post execution of shareholding pact between them, each would have 25 per cent stake in Mumbai Aviation Fuel Farm Facility Ltd, which is currently a wholly-owned subsidiary of Mumbai International Airport.
The green signal has come after the Competition Commission of India (CCI) sought clarifications on many occasions from the concerned parties since the watchdog had earlier formed a prima facie opinion that the deal would be anti-competitive.
Read news in full 30/09/14 PTI/Business Standard
Indian Oil Corp Ltd, Bharat Petroleum Corporation Ltd, Hindustan Petroleum Corporation Ltd and Mumbai International Airport Pvt Ltd would form an equal joint venture.
Post execution of shareholding pact between them, each would have 25 per cent stake in Mumbai Aviation Fuel Farm Facility Ltd, which is currently a wholly-owned subsidiary of Mumbai International Airport.
The green signal has come after the Competition Commission of India (CCI) sought clarifications on many occasions from the concerned parties since the watchdog had earlier formed a prima facie opinion that the deal would be anti-competitive.
Read news in full 30/09/14 PTI/Business Standard
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