India Okays Adani Wilmar Bid to Purchase Ruchi Soya

The Competition Commission of India (CCI) has reportedly given approval to Adani Wilmar’s bid to purchase the struggling Indian edible oil producer Ruchi Soya.  Adani Wilmar, the highest bidder, according to press reports placed a bid of USD854 million.  The approval would clear the way for Adani Wilmar to start formal acquisition procedures.  The company sells cooking oils under the Fortune brand in India.  Adani Wilmar is a joint venture between India’s Adani Group and Singapore’s Wilmar International.