Date: 2025-05-13Category: Not ApplicableState: Union GovernmentCountry: India
CCI approves the combination inter alia envisaging demerger of MDO Business of Thriveni Earthmovers into Thriveni Earthmovers and Infra; and acquisition of shares of Thriveni Earthmovers and Infra by Lloyds Metals and Energy
On May 13, 2025, the Competition Commission of India (CCI) approved the business combination involving the demerger of Thriveni Earthmovers Private Limited's Mining Development and Operations (MDO) division into two entities: Thriveni Earthmovers and Infra Private Limited (TEIPL), and acquisition of shares by Lloyds Metals and Energy. The MDO business specializes in iron ore, coal, baryte, and manganese development and operation services including exploration, resource assessment, mining, processing, transportation, logistics, and beneficiation.
Lloyds Metals and Energy was established in 1977 and operates as an iron ore mining company with additional business segments such as direct reduced iron production, captive power generation, and pellet trading. TEIPL is a newly formed entity without existing operations anywhere. The total shareholding of Lloyds Metals and Energy Limited will be acquired by TEIPL, alongside a majority stake in its subsidiary, Lloyds Surya Private Limited, which began operations recently and had no business activity as of the 2023-24 fiscal year.
The CCI endorsement includes a pending detailed order with release ID 2128470 from the NBAD.
Key Entities Referenced
Competition Commission of India: An organization that approved the combination.
CCI: Abbreviation for Competition Commission of India.
Thriveni Earthmovers: Company undergoing demerger of its MDO Business.
Thriveni Earthmovers and Infra: Company formed as a result of the demerger of Thriveni Earthmovers' MDO Business; subject to share acquisition by Lloyds Metals and Energy.
Lloyds Metals and Energy: Company acquiring shares of Thriveni Earthmovers and Infra.
MDO Business: Mining development and operations business of Thriveni Earthmovers.
Thriveni Earthmovers Private Limited: Full legal name of Thriveni Earthmovers.
TEMPL: Abbreviation for Thriveni Earthmovers Private Limited.
Thriveni Earthmovers and Infra Private Limited: Full legal name of Thriveni Earthmovers and Infra.
TEIPL: Abbreviation for Thriveni Earthmovers and Infra Private Limited.
Lloyds Metals and Energy Limited: Full legal name of Lloyds Metals and Energy.
LMEL: Abbreviation for Lloyds Metals and Energy Limited.
Lloyds Surya Private Limited: A company acquired by TEIPL and a wholly owned subsidiary of LMEL.
Lloyds Surya: Shortened Name for Lloyds Surya Private Limited.
India: Country in which TEIPL does not have any business operations.
Maharashtra: State in India where Lloyds Surya's registered office is located.
Competition Commission of India
CCI approves the combination inter alia envisaging
demerger of MDO Business of Thriveni Earthmovers
into Thriveni Earthmovers and Infra; and acquisition
of shares of Thriveni Earthmovers and Infra by
Lloyds Metals and Energy
Posted On: 13 MAY 2025 7:31PM by PIB Delhi
The Competition Commission of India has approved the combination inter alia envisaging demerger of MDO
Business of Thriveni Earthmovers into Thriveni Earthmovers and Infra; and acquisition of shares of Thriveni
Earthmovers and Infra by Lloyds Metals and Energy.
The combination envisages demerger of mining development and operations (MDO) business of Thriveni
Earthmovers Private Limited (TEMPL) into Thriveni Earthmovers and Infra Private Limited (TEIPL);
acquisition of 79.82% shareholding in TEIPL by Lloyds Metals and Energy Limited (LMEL); and acquisition
of majority shareholding in Lloyds Surya Private Limited (Lloyds Surya) by TEIPL.
TEMPL, through its MDO Business, is engaged in the business of mine development and operation in relation
to iron ore, coal, baryte and manganese. The MDO services include exploration and resource assessment,
mine development, mining operations, processing and beneficiation, transportation and logistics.
LMEL was incorporated in 1977 as an iron ore mining company. Currently, its business segments include: (a)
iron ore mining; (b) direct reduced iron (Sponge Iron) production; (c) generation of captive power; and (d)
pellet trading.
TEIPL is a newly incorporated entity and currently does not have any business operations in India or abroad.
Lloyds Surya is a wholly owned subsidiary of LMEL, having its registered office in Maharashtra, India. It
began operations recently and did not have any business operations in FY 2023-24.
Detailed order of the Commission will follow.
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NB/AD
(Release ID: 2128470)