The Competition Commission of India (CCI) has approved the acquisition of Avana Logistek Limited, Transworld Feeders Private Limited and Transworld Feeders FZCO by Unifeeder ISC FZCO
The proposed combination envisages acquisition of stake in Avana Logistek Limited (Avana), Transworld Feeders Private Limited (TFPL) and Transworld Feeders FZCO by Unifeeder ISC FZCO (Unifeeder), an official release said.
Unifeeder is indirectly held by DPW, forming part of DPW group. In India, Unifeeder is present through its subsidiaries, Feedertech Pte. Limited (Feedertech) and Perma Shipping Line Pte. Limited.
Feedertech provides EXIM feeder services and Perma Shipping Line Pte. Limited provides EXIM non-vessel owning common carrier (NVOCC) services.
Business of Avana comprises multimodal domestic coastal services and NVOCC solutions. Presently, TFPL is not engaged in any business activities in India.
However, under the proposed combination TFPL would acquire EXIM feeder shipping business of Shreyas Shipping and Logistics Limited, the release added.