New Delhi: The Competition Commission of India (CCI) approves acquisition of METRO Cash and Carry India Private Limited by Reliance Retail Ventures Limited
The proposed combination involves acquisition of 100% of the issued and paid-up equity share capital of METRO Cash and Carry India Private Limited by the Reliance Retail Ventures Limited.
The Acquirer is a subsidiary of Reliance Industries Limited. The Acquirer, through its subsidiaries and affiliates, is engaged in the wholesale and retail sale of products across categories such as food and groceries, d0urable goods and apparel and footwear in India. Metro Cash is engaged in the business of cash and carry wholesale trading in India.
CCI has also approved acquisition of sole control of Meritor by Cummins. The combination consisted of the acquisition of sole control of Meritor, Inc. by Cummins Inc.
Cummins, a stock corporation under USA, is said to be engaged in designs, manufactures, distribution and service of diesel, natural gas, electric and hybrid powertrains and powertrain-related components.
Meanwhile, CCI also approved the acquisition of 100% of the equity share capital of L&T Infrastructure Development Projects Limited (L&T IDPL) and Kudgi Transmission Limited (KTL), by Epic Concesiones Private Limited (ECPL) and Infrastructure Yield Plus II (IYP II), respectively, under Section 31(1) of the Competition Act, 2002. The Proposed Combination envisages the acquisition of 51% and 49% of equity share capital of L&T IDPL from Larsen and Toubro Limited and CPPIB India Private Holdings Inc., respectively, by ECPL and 100% of the equity share capital of KTL (i.e., a wholly-owned subsidiary of L&T IDPL) by IYP II.