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The Competition Commission of India (CCI) has approved the acquisition of 50.1 per cent equity share capital of Sanmina-SCI India Private Limited (SCIPL) by Reliance Strategic Business Ventures Limited (RSBVL).
RSBVL is a subsidiary of Reliance Industries Limited. RSBVL’s principal activities are trading of goods, holding strategic investment interests in businesses and providing business support services.
SCIPL is an indirect subsidiary of Sanmina Corporation, a Fortune 500 company headquartered in San Jose, California, USA.
Sanmina is a global provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services.
It provides its services to original equipment manufacturers primarily in the communications networks, computing and storage, medical, defense and aerospace, industrial and semiconductor, multi-media, automotive and clean technology sectors.
IDFC Asset Management
I
The CCI has also approved the acquisition of stake in IDFC Asset Management Company Limited and IDFC AMC Trustee Company Limited by Bandhan Financial Holdings Limited, ChrysCapital and GIC.
The proposed combination envisages acquisition of 99.96 per cent stake in IDFC Asset Management Company Limited.
BFHL is a wholly-owned subsidiary of Bandhan Financial Services Limited. BFHL is set up to act as the promoter of Bandhan Bank Limited and to hold the investment in Bandhan Bank as well as all other financial services entities of the group regulated by the Reserve Bank of India or other financial sector regulators.
Lathe is wholly-owned by GIC (Ventures) Private Limited. Lathe is part of a group of investment holding companies managed by GIC Special Investments Private Limited. IDFC AMC is the asset management company to IDFC Mutual Fund (
Shriram Transport Finance
CCI has approved the proposed merger of Shriram Transport Finance and Shriram City Union Finance.
Commenting on the approval, Umesh Revankar, VC & MD, Shriram Transport Finance, said, “With this approval, we have now received approvals for the merger of Shriram City with Shriram Transport Finance from SEBI, BSE, NSE, shareholders, secured creditors, unsecured creditors, Competition Commission of India and Insurance Regulatory & Development Authority and Reserve Bank of India and now only await the final go-ahead from National Company Law Tribunal (NCLT)”.
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