Competition Commission clears LG Life Sciences-LG Chem merger

NEW DELHI: Fair trade regulator CCI has approved the proposed merger of South Korea-based LG Life Sciences into LG Chem.

Both companies, part of South Korean major LG, have presence in India.

The merger was announced by the companies in September following approval of their respective boards of directors.

In a tweet, Competition Commission of India (CCI) said, it has approved the "merger of LG Life Sciences Limited into LG Chem Limited".

As per a filing to the watchdog, LG Chem would be the surviving company post merger.

LG Chem, which is into manufacturing chemicals, has three subsidiaries in the country -- LG Chemicals India, LG Polymers India and LGC Petrochemical India.

LG Life Sciences has interests in pharmaceutical products and specialty chemicals and is present in the country through LG Life Sciences India.