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
- What percentage of stake is JSW Group acquiring in MG Motor India?
- Who is acquiring Wistron Infocomm Manufacturing (India) Pvt Ltd?
- Which family entities are acquiring shareholding in Religare Enterprises?
- In the merger of Fincare Small Finance Bank and AU Small Finance Bank, which entity is the surviving one?
- What is the newly incorporated entity through which JSW Group is making the stake acquisition?
- Which regulatory body granted approval for these acquisitions and mergers in India?
Kindly share your responses in the comment section!!