CCI approves Minda Corp’s stake purchase of as much as 8.79% in Pricol

The Competitors Fee of India (CCI) has permitted the acquisition of as much as 8.79 per cent of the fairness share capital of Pricol Ltd (Pricol/goal) by Minda Company Ltd (Minda/acquirer).

The proposed mixture pertains to an acquisition of as much as 8.79 per cent of the fairness share capital of Pricol by Minda.

Minda is engaged within the enterprise of producing of auto – parts elements and caters to unique gear producers (OEMs) and tier-1 in varied segments in India.

Pricol is engaged within the enterprise of producing of vehicle parts for OEMs, tier-1 and alternative markets throughout India and globally.

CCI, had on January 3, stated that prima facie the proposed mixture of Mindanao and Pricol is prone to lead to an “considerable opposed impact on competitors of a number of causes”. Therefore, the competitors watchdog deliberate to inquire additional into the matter, it had stated.

In Might 2023, Pricol had filed a preliminary objection towards Minda’s utility to the CCI to purchase fairness stake as much as 24.5 per cent in Pricol.