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Competition Commission of India Greenlights JSW Group’s 38% stake buy in MG Motor India

The Competition Commission of India (CCI) has given the nod to significant business transactions, signaling a shifting landscape in the corporate sector. Among the approved deals is the JSW Group’s strategic move to acquire a substantial 38% stake in MG Motor India. Facilitated through JSW Ventures Singapore, a newly established subsidiary of JSW International Tradecorp Pte Ltd, the acquisition is poised to reshape the dynamics of the automotive industry.

1. JSW Group’s 38% Stake Acquisition in MG Motor India

  • JSW Group, led by Sajjan Jindal, has secured CCI approval for its proposed acquisition of up to 38% stake in MG Motor India.
  • The stake purchase is facilitated through JSW Ventures Singapore, a newly formed entity under JSW International Tradecorp Pte Ltd.

2. Tata’s Full Ownership of Wistron Infocomm

  • Tata Electronics has received CCI approval for the complete acquisition of Wistron Infocomm Manufacturing (India) Pvt Ltd.

3. Burman Family Entities’ Shareholding in Religare Enterprises

  • CCI has granted approval for Burman Family entities, namely Puran Associates, M.B Finmart, VIC Enterprises, & Milky Investment, to acquire shareholding in Religare Enterprises.
  • The approval is granted while acknowledging potential legal proceedings under specified sections of the Competition Act 2002.

4. Merger of Fincare Small Finance Bank and AU Small Finance Bank

  • CCI has approved the merger between Fincare Small Finance Bank Limited and AU Small Finance Bank, designating AU Small Finance Bank as the surviving entity.

Important Questions Related to Exams

  1. What percentage of stake is JSW Group acquiring in MG Motor India?
  2. Who is acquiring Wistron Infocomm Manufacturing (India) Pvt Ltd?
  3. Which family entities are acquiring shareholding in Religare Enterprises?
  4. In the merger of Fincare Small Finance Bank and AU Small Finance Bank, which entity is the surviving one?
  5. What is the newly incorporated entity through which JSW Group is making the stake acquisition?
  6. Which regulatory body granted approval for these acquisitions and mergers in India?

Kindly share your responses in the comment section!!

 

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