MUFG Bank and Koch Group Eye Minority Stake in Shiprocket

MUFG Bank and Koch Group have applied to the Competition Commission of India to acquire minority stakes in logistics platform Shiprocket. MUFG Bank, part of Mitsubishi UFJ Financial Group, and Koch through KDT Venture Holdings aim to invest without affecting competition in India's logistics market.

Japan's MUFG Bank and U.S.-based Koch Group are seeking approval from the Competition Commission of India (CCI) to acquire minority stakes in logistics aggregator Shiprocket.

MUFG, a subsidiary of Mitsubishi UFJ Financial Group, has submitted a notice to purchase shares, as has Koch Group through KDT Venture Holdings.

Both companies suggest that these acquisitions will not disrupt the competitive landscape, aiming only at minority stakes to facilitate strategic investments in Shiprocket.

(With inputs from agencies.)