FCC

CCI Approves Thriveni Demerger and Lloyds Stake Acquisition

2025-05-16

The Competition Commission of India (CCI) has approved a combination involving the demerger of the Mining Development and Operations (MDO) business of Thriveni Earthmovers Private Limited (TEMPL) into Thriveni Earthmovers and Infra Private Limited (TEIPL), along with a significant stake acquisition by Lloyds Metals and Energy Limited (LMEL).

As per the approved structure, TEMPL will transfer its MDO business—spanning exploration, mine development, mining, beneficiation, and logistics of iron ore, coal, baryte, and manganese—into TEIPL. Subsequently, LMEL will acquire approximately 79.82 per cent shareholding in TEIPL. In parallel, TEIPL will acquire a majority stake in Lloyds Surya Private Limited, a newly formed subsidiary of LMEL.

LMEL, established in 1977, currently operates across iron ore mining, sponge iron production, captive power generation, and pellet trading. TEIPL is a newly incorporated entity with no existing operations, while Lloyds Surya also did not carry out any business activity during FY 2023–24.

The detailed order from the CCI will be issued in due course.