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Sunday, June 16, 2024

CCI approves Mitsubishi Corp’s stake acquisition in TVS Group

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In Short:

The Competition Commission of India (CCI) has approved Mitsubishi Corporation’s acquisition of equity stakes in two companies – TVS Certified Private Limited and TVS Vehicle Mobility Solution Private Limited. Mitsubishi is a global business enterprise with operations in various industries. The CCI has also approved BlackRock Funding, Inc’s acquisition of Global Infrastructure Management, LLC. BlackRock is a U.S.-based company that provides investment management services globally.


Mitsubishi Corporation’s Acquisition of TVS Certified Private Limited and TVS Vehicle Mobility Solution Private Limited Approved by CCI

Great news! The Competition Commission of India (CCI) has given the green light to Mitsubishi Corporation’s acquisition of a certain equity stake in TVS Certified Private Limited and TVS Vehicle Mobility Solution Private Limited.

Who are the key players?

Mitsubishi Corporation, the Acquirer, is a global business enterprise with operations in 90 countries and regions. They are involved in various industries such as natural gas, industrial materials, automotive and mobility, food industry, consumer industry, and urban development.

TVS Certified Private Limited, Target 1, will be selling used vehicles through offline auctions in physical auction yards. On the other hand, TVS Vehicle Mobility Solution Private Limited, Target 2, will be involved in dealership and distribution of commercial and passenger vehicles, including electric vehicles.

BlackRock’s Acquisition of Global Infrastructure Management, LLC Also Approved by CCI

In another exciting development, the CCI has given the thumbs up to the acquisition of Global Infrastructure Management, LLC by BlackRock Funding, Inc.

More about the companies

BlackRock Funding, Inc. (BFI), a newly formed subsidiary of BlackRock Inc., is set to acquire 100% of GIM. BlackRock, a U.S.-based company, offers investment management and advisory services to clients worldwide.

Global Infrastructure Management, LLC (GIM), based in New York City, is a global independent infrastructure fund manager.

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