CCI approves acquisition of certain shareholding of Shriram Investment Holdings Private Limited by Shriram Ownership Trust.
The Competition Commission of India (CCI) has given its approval for the proposed acquisition of a certain shareholding of Shriram Investment Holdings Private Limited by Shriram Ownership Trust. This means that Shriram Ownership Trust will acquire a 9.44% stake from APRN Enterprises Private Limited and a 20% stake from Piramal Enterprises Limited.
As a result, the total holding in Shriram Investment Holdings Private Limited by Shriram Ownership Trust and SCPL will increase to 100%. Shriram Investment Holdings Private Limited is an unregistered core investment company with significant assets and turnover.
The Shriram Group aims to increase its holding in the company and its financial services business by acquiring stakes from PEL and APRN, who have expressed their interest in exiting as minority shareholders. The detailed order from the CCI will be released soon.
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