New Delhi: The Competition Commission of India (CCI) approved the Malabar merger of 51 companies belonging to the Malabar Group with Malabar Gold and Diamonds Limited. The approval clears the proposed corporate restructuring of the jewellery business.
According to the Commission, the transaction involves the merger of 51 transferor companies into Malabar Gold and Diamonds Limited, the flagship company of the Malabar Group. Most of the transferor companies operate in the jewellery business.
The Commission announced its approval on Monday. However, it said the detailed order would be issued separately.
Malabar merger to streamline jewellery business
Malabar Gold and Diamonds Limited manufactures, trades, retails, wholesales, imports and exports gold, diamonds, silver, platinum, bullion, gemstones and other jewellery products. In addition, the company supplies lifestyle products linked to the jewellery sector through dealers, franchisees and other business partners.
The approved restructuring is expected to consolidate the group’s jewellery operations under a single corporate entity. Consequently, the move will simplify the group’s business structure and operational framework.
CCI stated that the detailed order explaining the decision will be released in due course.
