Competition Commission approves Daiwa International's stake purchase in Ambit

Fair-trade regulator Competition Commission of India (CCI) on Tuesday said it has given approval to Daiwa International Holdings for acquiring a stake in Ambit Pvt Ltd.

Daiwa International Holdings Inc is a Japan-based intermediary management holding company.

In a tweet on Tuesday, CCI said it has approved the ''acquisition of certain shareholding in Ambit Private Limited by Daiwa International Holdings Inc''.

Ambit Pvt Ltd is a Sebi-registered merchant banker which provides a range of financial services.

In May, Daiwa announced that it will acquire a minority stake in Ambit.

Deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices.