Stock Market News

Competition Comission of India Gives Green signal to Witzig-Amazon’s Aquisition Bid for ‘More’ Retail

Sharing is caring!

Indian regulator for fair trade Competition Commission of India (CCI) has approved a deal wherein Samara Capital-backed Witzig Advisory Services and Amazon will acquire Aditya Birla Retail Ltd, which operates supermarket store chain ‘More’.

According to the Competition Commission of India(CCI), the deal involves acquisition of 99.99 per cent of the equity share capital of Aditya Birla Retail by Witzig and 49 per cent stake buy in Witzig by Amazon’s subsidiary Amazon NV Investment Holdings LLC.

This also marks the US-based e-commerce major Amazon’s second investment in the Indian brick and mortar format after it had picked up stake in the K Raheja group’s retail arm Shopper Stop.

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

Related Articles

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
%d bloggers like this: