CCI Clears Major Stake Acquisitions in Sammaan Capital and Schneider Electric

The Competition Commission of India has approved key deals involving Abu Dhabi's International Holding Company acquiring a significant stake in Sammaan Capital, and Schneider Electric's acquisition of shares in its Indian entity and subsidiary. Both developments highlight strategic investments in the finance and energy sectors.

The Competition Commission of India (CCI) gave the green light to two significant acquisition proposals on Tuesday. Abu Dhabi-based International Holding Company's plan to acquire a 43.46% stake in Sammaan Capital was approved, marking a $1 billion investment in the RBI-registered non-banking financial company.

In parallel, France's Schneider Electric received CCI endorsement for its proposed acquisition of a 35% stake in both Schneider Electric India Pvt Ltd and Schneider Electric JV Holdings 2 Pte Ltd from MacRitchie Investments Pte Ltd, an arm of Temasek Holdings.

These moves are part of broader strategies to enhance footholds in India's finance and energy markets. The regulator emphasized the necessity of such approvals to ensure fair business practices and healthy competition in the marketplace.

(With inputs from agencies.)