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India's Lloyds Metals and Energy Limited (LMEL) acquired an 80% equity stake in mining equipment manufacturer Thriveni Earthmovers and Infra Limited (TEIL) to enhance iron ore mining efficiency.
The Competition Commission of India approved the demerger of Thriveni Earthmovers' MDO business into Thriveni Earthmovers and Infra, and the acquisition of 79.82% of TEIPL by Lloyds Metals and Energy.
Lloyds Metals and Energy Ltd has sought CCI approval to acquire a 79.82% stake in Thriveni Earthmovers and Infra Pvt Ltd and integrate the mining business of Thriveni Earthmovers Pvt Ltd into it. The transaction was structured via a Share Subscription Agreement signed on February 17, 2025.