The Competition Commission of India (CCI) approved the following proposals on 23rd July 2024,
Transactions Involving Amazon Asia-Pacific, Frontizo, Appario, Haverl & CRPL
The CCI has approved the proposed combination involving, inter alia, Amazon Asia-Pacific Holdings Private Limited (Amazon Asia-Pacific), Frontizo Business Services Private Limited (Frontizo), Appario Retail Private Limited (Appario), Haverl LLC (Haverl) and Clicktech Retail Private Limited (CRPL).
Proposed Combination:
i.Amazon Asia-Pacific will acquire 76% of equity shares in Frontizo from Zodiac Wealth Advisors LLP (Zodiac).
- Frontizo provides customer support services for Amazon India Marketplace and Amazon.com.
ii.CRPL will acquire Appario’s entire business, as a going concern.
- Appario, a wholly-owned subsidiary of Frontizo, currently offers for sale products to customers on the Amazon India Marketplace. Appario is a Joint Venture (JV) of Amazon and Patni group owned Zodiac Wealth Management.
- Zodiac held 76% stake in Appario Retail while Amazon Asia Pacific Holdings makes up for a 23% stake in it. The remaining 1% share is with Zaffre.
iii.Haverl will acquire 1% shareholding in New Trends Commerce Private Limited (NTCPL).
- Haverl is engaged in the business of making and holding investments.
iv.Intra-group transactions will occur among Clicktech Enterprises Private Limited (CEPL), NTCPL, and CRPL.
- CEPL is the parent/holding entity of NTCPL; NTCPL is the parent entity of CRPL;
- CRPL focuses on Business-to-Consumer (B2C) and Business-to-Business (B2B) sales on Amazon India Marketplace.
Acquisition by Manipal Health Systems & MEMG Family Office in Aakash Educational Services
The CCI has approved the acquisition by Manipal Health Systems Private Limited and MEMG Family Office LLP in Aakash Educational Services Limited.
Acquirer and Target:
Acquirer-1: Manipal Health Systems, which engages in managing hospitals and healthcare services in India.
Acquirer-2: MEMG Family Office LLP. It is a Limited Liability Partnership (LLP) firm, incorporated in India. It is a part of the Pai Family Group, providing consultancy services in India.
Target: Aakash Educational Services. It is a publicly unlisted public company incorporated in India under the Companies Act, 1956.
- Target directly or through its subsidiary or its franchisees offers coaching services through multiple modes.
Transaction Details:
i.Transaction-1: Allotment of the identified equity stake in the Target to Acquirer-1.
ii.Transaction-2: Right to seek transfer of certain equity shares of the Target.
- These transactions are collectively known as the ‘Notified Transactions.’
Acquisition of 16.12% Shareholding in SGIH by SEMM
The CCI has approved the proposed acquisition of 16.12% shareholding in Shriram GI Holdings Private Limited (SGIH) by Sanlam Emerging Markets (Mauritius) Limited (SEMM) from its existing shareholders.
- SGIH is the promoter and holding company of Shriram General Insurance Company Limited (SGIC), holding a 66.64% stake in SGIC.
Note: SEMM, a 100% subsidiary of Sanlam Limited, South Africa, is incorporated in Mauritius. SEMM is part of the larger Sanlam Group.
Acquisition of 16.12% Shareholding in SLIH by SEMM
The CCI has approved the proposed acquisition of 16.12% shareholding in Shriram LI Holdings Private Limited (SLIH) by SEMM from its existing shareholders.
- SLIH is the promoter and holding company of Shriram Life Insurance Company Limited (SLIC), holding a 74.56% stake in SLIC.
About the Competition Commission of India (CCI):
The CCI is a statutory body established in 2003 under the Competition Act of 2002 and has been operational since 2009.
Chairperson– Ravneet Kaur
Headquarters– New Delhi, Delhi
