M&A

M&A

B2B marketplace OfBusiness' parent gets CCI nod to acquire steel maker SMW Ispat

INC42  

The Competition Commission of India (CCI) has approved the proposal of OFB Tech, the parent company of B2B marketplace OfBusiness, to acquire a 100% stake in steel manufacturer SMW Ispat. SMW Ispat has a manufacturing plant in Maharashtra and makes steel products under the brand name Sangam TMT. OfBusiness had applied for approval with the competition watchdog in March 2022.