CCI approves acquisition of Avana Logistek, Transworld Feeders and Transworld Feeders FZCO by Unifeeder

Business of Avana comprises multimodal domestic coastal services and NVOCC solutions.

Jun 04, 2021 08:06 IST India Infoline News Service

The Competition Commission of India (CCI) approves the acquisition of Avana Logistek Limited, Transworld Feeders Private Limited and Transworld Feeders FZCO by Unifeeder ISC FZCO

The proposed combination envisages the acquisition of a stake in AvanaLogistek Limited (Avana), Transworld Feeders Private Limited(TFPL) and Transworld Feeders FZCO by Unifeeder ISC FZCO (Unifeeder).

Unifeeder is indirectly held by DPW, forming part of DPW group.In India, Unifeeder is present through its subsidiaries, Feedertech Pte. Limited (Feedertech) and Perma Shipping Line Pte. Limited.Feedertech  provides EXIM feeder services and Perma Shipping Line Pte. Limited provides EXIM non-vessel owning common carrier (NVOCC) services.

Business of Avana comprises multimodal domestic coastal services and NVOCC solutions. Presently, TFPL is not engaged in any business activities in India. However, under the proposed combination TFPL would acquire EXIM feeder shipping business of Shreyas Shipping and Logistics Limited.

Source: Ministry of Corporate Affairs

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