CCI approves acquisition of up to 8.79% (approx.) of equity share capital of Pricol Limited by Minda Corporation Limited

The Competition Commission of India (CCI) has approved the acquisition of up to 8.79% (approx.) of the equity share capital of Pricol Limited (Pricol/Target) by Minda Corporation Limited (Minda/Acquirer).

The Proposed Combination relates to an acquisition of up to 8.79% (approx.) of the equity share capital of Pricol by Minda.

The Acquirer is engaged in the business of manufacturing of auto – components parts and caters to Original Equipment Manufacturers (OEMs) and Tier-1 in various segments in India.

The Target is engaged in the business of manufacturing of automobile components for OEMs, Tier-1 and replacement markets across India and globally.

Detailed order of the CCI will follow.

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NB/VM/KMN