CCI has approved the proposed combination of Unilever PLC and Unilever NV.
Fair trade regulator CCI has approved the proposed combination of Unilever PLC and Unilever NV. Unilever PLC and Unilever NV are the two ultimate holding parent companies of the Unilever Group, which is one of the world's leading consumer goods firms.
In a tweet, the Competition Commission of India (CCI) said it has approved "the proposed combination involving Unilever PLC and Unilever NV".
Deals beyond a certain threshold require clearance of the fair trade regulator.
According to a notice submitted to the CCI, the proposed transaction is an internal reorganisation of the Unilever Group resulting in simplification of the existing dual-headed legal structure into a single new holding company, New NV.The proposed transaction "does not lead to any structural change to markets or to competition, either globally or in India", the notice said.