CCI Greenlights Bharti and Indigo Cove's $2 Billion Stake in Haier India

The Competition Commission of India (CCI) has approved Bharti Group and Indigo Cove Investments' acquisition of a 49% stake in Haier India. Valued at approximately USD 2 billion, the transaction was cleared under the green channel route, ensuring no adverse competition effects in the Indian market.

The Competition Commission of India (CCI) has given the green light to Bharti Group and Indigo Cove Investments for their proposed acquisition of a 49% stake in Haier India. The deal, estimated at around USD 2 billion, has received approval via the green channel route.

This transaction encompasses the acquisition of nearly 49% equity shareholding in Haier India by Indigo Cove and Bharti Neo Ventures Ltd (BNVL) through a combination of primary subscription and secondary share purchase. Haier India specializes in the manufacturing of household appliances like refrigerators and air-conditioners.

Indigo Cove Investments BV, incorporated in the Netherlands, is an investment holding company, while BNVL is a wholly-owned Bharti group subsidiary with no direct business operations. The CCI's green channel approval indicates the transaction poses no competitive threat in India's market.

(With inputs from agencies.)