Shell awaits final approval from the Competition Commission of India before it can buy Raj Petro Specialities Private Ltd. from Brenntag Group.
The two Shell subsidiaries that will make the purchase – Shell Deutschland GmbH and Shell Overseas Investments B.V. – have first to convince the commission that the acquisition doesn’t threaten competition, according to media reports.
Raj Petro makes transformer oils, industrial greases and hydraulic oils, among other specialty lubricant products at its manufacturing sites in Chennai and Silvassa. Together they have joint capacity of 350,000 metric tons per year.
“We can confirm that we have reached an agreement to acquire Raj Petro Specialities from the Brenntag Group,” a Shell spokesperson said. “The transaction is subject to regulatory approval.”
Brenntag started a joint venture with Raj Petro Specialities in 2017 and later acquired all of the company.