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Raymond Group receives unconditional India clearance to acquire majority in Maini Precision Products

( March 7, 2024, 02:02 GMT | Official Statement) -- MLex Summary: India's textile and apparel major, the Raymond Group, has received unconditional approval to acquire a 59.25 percent stake in Maini Precision Products in its bid to expand in the aerospace, defence and electric-vehicle components sectors. The proposed transaction also includes the acquisition of a stake by JK Files & Engineering in JK Talabot by a wholly owned subsidiary of Raymond and the merger of Ring Plus Aqua Limited, MPPL and the engineering business of JK Files, according to a statement issued by the Competition Commission of India late Wednesday, The statement from the Competition Commission of India follows:...

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