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India: Water irrigation deal cleared, merges US and Israeli firms

 |  May 20, 2014

The Competition Commission of India has reportedly given its approval for the merger of water irrigation systems companies FIMI V 2012 and Deere & Company.

Israel-based FIMI V will acquire US-based Deere to merge their water segment operations that include the sale of products like sprinklers and drip lines The Competition Commission of India has okayed the merger after finding the transaction would not likely harm competition in the country.

According to reports, the acquisition deal was agreed upon last February and includes plans for FIMI to create a new company in Israel called FIMI Irrigation, which will subsequently merge water irrigation operations with Deere’s related unit.

Reports did not specify financial details of the transaction.

Full content: Business Standard

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