CCI Approves Tata International Singapore-Mercuria Joint Venture For Global Commodities Trading

The Competition Commission of India on Tuesday approved the proposed formation of a joint venture company between Mercuria Energy Netherlands B.V., a subsidiary of Mercuria Energy Group Limited, and Tata International Singapore (Pte) Ltd (TISPL).

According to a press release issued by the Commission, the transaction involves Mercuria and TISPL entering into an agreement to establish a joint venture company in the Dubai International Financial Centre, United Arab Emirates, along with certain pre-closing restructuring and transfers.

Mercuria Energy is engaged globally in the trading of energy and commodity products. Its operations include trading in crude oil and petroleum products, biodiesel, natural gas, electricity, carbon emission rights, coal, as well as certain base metals and petrochemicals.

Post-completion of the transaction, the newly incorporated joint venture company will function as a commodities trading and investment entity. The entity is proposed to undertake trading activities in commodities such as metals, minerals, agricultural products, and oil and gas products through subsidiaries operating across multiple jurisdictions, including India.

The Commission stated that detailed order will follow.