Protos, Paharpur Cooling get CCI nod to raise stake in Thyssenkrupp India

The Competition Commission of India (CCI) said on Tuesday it has cleared the acquisition of additional stake in Thyssenkrupp Industries India by Protos Engineering Company and Paharpur Cooling Towers.

Thyssenkrupp Industries India mainly provides engineering, procurement and construction services to execute turnkey projects in various industries and after-sales services, the antitrust regulator said in a statement.

Protos acts as an agent for companies that manufacture equipment, machinery and raw materials in sectors, including steel, cement and sugar. It is also the sole selling agent of Thyssenkrupp Industries India. Paharpur is engaged in the manufacture and sale of industrial cooling systems, generation of power through wind and non-banking financial services, the regulator said in a statement.