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