India Development News & Foreign Investment Opportunities

Plates & Coils Mill Division acquisition approved

Laptev acquires Welspun division


Laptev acquires Welspun division




The Competition Commission of India (CCI) has approved the acquisition of the Plates & Coils Mill Division of Welspun Corp Limited by Laptev Finance Private Limited under Section 31(1) of the Competition Act, 2002.

The Ministry of Corporate Affairs announced this on 18 Nov 2019.

Laptev is in the business of buying, selling, reselling, exporting, importing and trading all kinds of goods, including steel goods.

Welspun is the flagship company of Welspun Group, which is among the largest welded line pipe manufacturing companies in the world.

Welspun’s core business is that of manufacturing welded tubes and/or pipes of all sizes of steel, including stainless steel, carbon steel, alloy steel by resistance welding, spiral welding, or longitudinal welding.

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