CCI Greenlights Major Mergers in Financial, Power, and Manufacturing Sectors

The Competition Commission of India has approved significant acquisitions in financial services, power generation, and industrial manufacturing sectors, emphasizing a robust phase of corporate consolidation. Proposals include ICICI Prudential AMC's strategic purchase and Jindal's expansion in power, alongside Toyota's internal restructuring, showcasing dynamic realignments in India's corporate landscape.

The Competition Commission of India (CCI) has sanctioned three significant acquisition proposals spanning financial services, power generation, and industrial manufacturing, heralding a robust phase of corporate consolidation across the nation.

In the financial domain, CCI has granted clearance for ICICI Prudential Asset Management Company Limited to acquire specific businesses of ICICI Venture Funds Management Company Limited. This transaction encompasses the management and sponsorship of five SEBI-registered Alternative Investment Funds, alongside an advisory workshop supplying investment recommendations to an offshore private equity fund.

In the power sector, Jindal Jhajjar Power Limited received approval to acquire entire shareholding in Jhajjar Power Limited, boosting Jindal Group's influence in the thermal power segment. Meanwhile, Toyota Group's internal restructuring plans were also greenlit by the CCI, involving Toyota Asset Preparatory Co., Ltd.'s acquisition of Toyota Industries Corporation.

(With inputs from agencies.)