CCI approves Spring Canter Investment's acquisition of additional shareholding in Rivigo Services

Fair trade regulator CCI on Friday approved acquisition of additional shareholding in Rivigo Services by Spring Canter Investment Ltd. The regulator in a tweet on Friday said, "Commission approves acquisition of additional shareholding by Spring Canter Investment in Rivigo Services." PTI SRS ABMABM

Fair trade regulator CCI on Friday approved acquisition of additional shareholding in Rivigo Services by Spring Canter Investment Ltd. Spring Canter proposes to subscribe to compulsorily convertible preference shares (CCPS) of the Rivigo in the first tranche, a combination notice filed with the Competition Commission of India (CCI) said. Spring Canter also has the right but not the obligation to subscribe to additional CCPS in the second tranche, it added. Spring Canter is an investment holding company and Rivigo is a technology-enabled logistics company in the trucking industry. The regulator in a tweet on Friday said, "Commission approves acquisition of additional shareholding by Spring Canter Investment in Rivigo Services." PTI SRS ABMABM