CCI Sanctions Hyundai, Kia's Stake Acquisition in ANI Technologies, Ola Electric

As per the notice, the transaction pertains to the acquisition of minority equity stake in ANI Technologies and Ola Electric by Hyundai Motor and Kia Motors

October 31, 2019. By News Bureau

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The Competition Commission has announced that it has approved acquisition of shares by Hyundai Motor and Kia Motors in ANI Technologies and Ola Electric. As per a notice, the transaction pertains to the acquisition of minority equity stake in ANI Technologies and Ola Electric by Hyundai Motor and Kia Motors.

Fair trade regulator in a tweet said it "approves acquisition of shares in ANI Technologies and OLA Electric by Hyundai Motor and Kia Motors subject to compliance of modifications."

"The Commission approved the proposed combination subject to the carrying of modifications proposed by Hyundai Motor Company and Kia Motors Corporation," the Competition Commission of India (CCI) said in a release.

The proposed transaction does not give rise to any competition concerns, it added.

 

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