CCI clears Unifeeder ISC FZCO's purchase of three entities

The Competition Commission has cleared Unifeeder ISC FZCO's proposed acquisition of Avana Logistek Ltd, Transworld Feeders Pvt Ltd and Transworld Feeders FZCO.

Unifeeder is indirectly held by DPW, forming part of DPW Group.

In India, Unifeeder is present through its subsidiaries Feedertech Pte Ltd (Feedertech) and Perma Shipping Line Pte Ltd.

Feedertech provides EXIM (export-import) feeder services and Perma Shipping Line offers EXIM non-vessel owning common carrier services.

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An official release on Thursday said the proposed acquisition of stake in AvanaLogistek, Transworld Feeders and Transworld Feeders by Unifeeder has been approved by the Competition Commission of India (CCI).

Deals beyond a certain threshold require clearance from CCI, which keeps a tab on unfair business practice across sectors.