On April 22 2025, the Competition Commission of India (CCI) has approved the following proposals:
i.Approved the proposed combination of Pune (Maharashtra)-based Bharat Forge Limited (BFL) for acquisition of 100% equity shareholding of Ahmednagar (Maharashtra)-based AAM India Manufacturing Corporation Private Limited (AAMCPL), with voluntary modifications.
ii.Approved a joint proposal of wealth management company 360 ONE Private Equity Fund and New Delhi (Delhi)-based Bharti Life Ventures Private Limited (BLVPL) to buy certain stakes in Mumbai (Maharashtra)-based Bharti Axa Life Insurance Company Limited (BALIC).
iii.Approved the proposed acquisition of the Target Business by South-West Delhi (Delhi)-based Kandhari Global Beverages Private Limited (KGBPL) for Rs 2,000 crore.
CCI Approved BFL’s Proposal for 100% Acquisition of AAMCPL:
The CCI has approved the proposed combination of BFL, global provider of safety and critical forged components and solutions to various sectors like: automotive, railways, defence, among others for acquisition of 100% equity shareholding of AAMCPL, which is mainly engaged in the manufacturing and selling of axles for commercial vehicles in India, with voluntary modifications.
- The approval came following BFL first announced the execution of a Share Purchase Agreement(SPA) on October 17, 2024 to buy 100% stake in AAMCPL.
Key Details:
i.Before the acquisition by BFL, AAMCPL will do the following:
- It will separate its ‘Pune Business Office,’ which handles IT support and product engineering.
- And its components business that buys and sells vehicle parts to other AAMCPL group companies, and transfers them to one or more affiliates of its parent company, American Axle & Manufacturing Holdings Inc. (AAM Holdco).
ii.The e-axle assembly lines currently at AAM Auto Component (India) Private Limited, a subsidiary of AAM Holdco, will be acquired by the target company in the proposed deal.
CCI Approved 360 ONE, BLVPL Stake Acquisition in BALIC:
The CCI has approved a joint proposal of wealth management company 360 ONE Private Equity Fund and BLVPL to buy certain stakes in BALIC(Target), a limited liability public unlisted company incorporated in India.
- It has also approved the proposal for the subscription of certain equity stakes in BALIC by BLVPL and 360 Fund.
i.The proposed transaction will be carried out in two parts: firstly, 360 Fund, through its schemes/affiliates will acquire equity shares of BALIC from BLVPL.
ii.Subsequently, 360 ONE and BLVPL will subscribe to certain equity shares in BALIC.
Note:
- BLVPL is the parent company of BALIC and both belong to the Bharti Group.
- BALIC is a private, unlisted limited liability company in India, offering life insurance policies.
- 360 Fund is registered with the Securities and Exchange Board of India(SEBI) as a Category II Alternative Investment Fund(AIF) and is established for the purpose of investing in various sectors in India and worldwide.
CCI Approved the Proposed Acquisition of the Target Business by KGBPL:
The CCI has approved the proposed acquisition of the Target Business by KGBPL for Rs 2,000 crore.
- This acquisition aligns with Coca-Cola’s global strategy of divesting assets and franchising regional operations to local partners, facilitating KGBPL’s expansion into new markets.
i.The Target Business consists of Hindustan Coca-Cola Beverages Private Limited (HCCBPL)’s business of preparing, packaging, supplying and distributing NAB products in North Gujarat and Union Territory (UT) of Diu.
ii.KGBPL is an authorised bottler of The Coca-Cola Company (TCCC) and Schweppes Holdings Limited (SHL) and is working as distributor and supplier of Non-alcoholic Beverage (NAB) products in Rajasthan.
Recent Related News:
In March 2025, CCI approved Mumbai (Maharashtra)-based Epic Concesiones 2 Private Limited (ECP2PL) proposal for acquisition of 100% equity shareholding in 11 road SPVs (Target SPVs) owned by both Nashik (Maharashtra)-based Ashoka Concessions Limited (ACL) and Ashoka Buildcon Limited (ABL) (Proposed Equity Transaction).
