CCI gives nod to JSW Group's acquisition of 38% stake in MG Motor India
New Delhi: The Competition Commission of India (CCI) has green-lit the proposed acquisition of up to 38 percent of MG Motor India by the JSW Group, led by Sajjan Jindal.
"The Acquirer is a newly incorporated entity and is not engaged in any activities as on date. It is a wholly-owned subsidiary of JSW International Tradecorp Pte. Limited and belongs to JSW Group," the anti-trust watchdog stated.
"The Target is a company incorporated in India, engaged in the automobile original equipment manufacturing business and after sale services. The Target is primarily engaged in the manufacture and sale of passenger cars (including electronic vehicles) under the Target’s brand ‘MG’," it added.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
TVK leader booked for social media post urging ‘Gen Z revolution’ after Karur tragedy
PoK protests: Agitation escalates as civilians toss containers into river, clash with Pakistani forces
Nine Assam workers killed in accident at Tamil Nadu power plant site, PM Modi announces compensation
Denmark to tighten student visa rules, restrict family entry for Bangladeshi and Nepali applicants
