The Competition Commission of India (CCI) approves the merger of Aditya Marketing and Manufacturing Private Limited into Umang Commercial Company Private Limited.
i.Umang Commercial is a part of Aditya Birla Group, an Indian multinational group of companies and it is an investment holding company that holds shareholding in various entities on behalf of Kumar Mangalam Birla and his family.
- Umang Commercial Company Private Limited is registered with the Reserve Bank of India (RBI) as a Non-banking Financial Company (NBFC).
ii.Aditya Marketing and Manufacturing Private Limited is a part of B K Birla Group and is also an investment holding company that holds shareholding in various entities on behalf of the late Basant Kumar Birla and his family (BKB Family).
- Aditya Marketing and Manufacturing Private Limited is registered with the RBI as a NBFC.
iii.The proposed combination involves merger in accordance with the Scheme of Amalgamation under Sections 230 and 232 of the Companies Act, 2013.
iv.As a result of the merger, the shares of Umang Commercial in various entities will get transferred to Aditya Marketing and Manufacturing.
- The company will take control over the entities including Padmavati Investment Private Limited; Pilani Investment and Industries Corporation Limited; Century Textiles and Industries Limited; Century Enka Limited and Ganesh Tubes and Services Private Limited.
CCI Approves Acquisition of Shares in Olam Agri Holdings by SALIC International Investment Company
CCI approves the acquisition of 35.43 percent stake in Olam Agri Holdings Private Limited (Olam Agri) by SALIC International Investment Company (SIIC).
i.SIIC is fully owned and controlled by Saudi Agricultural and Livestock Investment Corporation (SALIC) and an unlisted limited liability company based in Riyadh, Saudi Arabia that has been established to hold SALIC’s international investments.
- SALIC is a Saudi Arabian investment company, active in the agricultural and food industries with investments both in Saudi Arabia and other countries.
ii.Olam Agri is a company that operates as a merchant and processor of agricultural goods including farming, procurement, wholesale trading, processing, refining and distributing and is headquartered in Singapore.
- More particularly, Olam Agri undertakes sale of various agri-commodities, including rice in India, both at the wholesale and the retail level (directly and indirectly).
CCI Approves Acquisition of Caladium’s 7.49 % Stake Buy in Aditya Birla Fashion and Retail Limited
CCI approves the acquisition of approximately 7.49 percent shareholding in Aditya Birla Fashion and Retail Limited on a fully diluted basis by the Caladium Investment Private Limited GIC (Ventures) by way of preferential issuance of equity and warrants.
i.Caladium Investment Private Limited is wholly-owned by Lathe Investment Private Limited, an entity which is in turn wholly-owned by GIC (Ventures) Private Limited.
- The GIC Investor is a special purpose vehicle (SPV) organised as a private limited company headquartered in Singapore that is part of a group of investment holding companies managed by GIC Special Investments Private Limited (GICSI).
ii.Aditya Birla Fashion and Retail Limited is a publicly listed company which is engaged in the manufacture and retailing of branded apparel, footwear and accessories (AFA).
- This operates across India through its retail stores and distributes through its exclusive brand outlets and Pantaloons stores, multi-brand outlets, shop-in-shop stores across departmental stores, own online retail platforms and 3rd party e-commerce marketplaces.