Koch's Acquisition of Guardian Passes CCI Fair Trade Regulations
Competition Commission of India, the fair trade regulator, approved the proposed acquisition of Guardian Industries Corp. by Koch Industries Inc. The two companies entered into a deal in November 2016 that Koch's wholly-owned subsidiary KGIC Merger Corp. would acquire sole ownership of Guardian.
"The deal is an all-cash transaction for the remaining 55.5 percent outstanding shares of Guardian Industries' common stock not already owned by affiliates of Koch," a company press release said.
Both the companies have presence in India. The CCI, which keeps a tab on unfair business practices, has approved the deal, as per the regulator's website.