Competition Commission of India (CCI) has approved combination proposal involving acquisition of majority shareholding of Cigniti Technologies by Coforge Limited (Coforge).
“Commission approves acquisition of certain equity shares (majority shareholding) of Cigniti Technologies Limited by Coforge Limited,” said a CCI post in platform ‘X’.
In May this year, the Board of Directors of Coforge approved the acquisition of 54 percent equity stake in Cigniti Technologies at a per share price of ₹ 1,415. Coforge had also announced that it expects the acquisition process to be completed July-September 2024 quarter.
In another transaction, CCI has approved the acquisition of certain equity shares of Sneha Farms Private Ltd by Mitsui & Co Ltd.
Sneha Farms, a leading broiler producer, is based in Hyderabad, Telangana State. After this investment, the company will become an associated company of Mitsui.