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The Competition Commission of India (CCI) has approved Mitsubishi Corporation’s acquisition of a certain equity stake of TVS Certified Private Limited and TVS Vehicle Mobility Solution Private Limited.
The Proposed Combination relates to Mitsubishi Corporation (Acquirer) acquiring an equity stake in TVS Certified Private Limited (Target 1) and TVS Vehicle Mobility Solution Private Limited (Target 2).
The Acquirer is a global integrated business enterprise that develops and operates businesses with offices and subsidiaries in 90 countries and regions and around 1,700 group companies worldwide. It operates in industries including natural gas, industrial materials, petroleum & chemicals, mineral resources, industrial infrastructure, automotive and mobility, food industry, consumer industry, power solutions, and urban development.
Target 1 will sell used vehicles by conducting auctions, mainly through offline channels in physical auction yards.
Target 2 will be engaged in the business of inter alia, (i) dealership and distribution of commercial vehicles and passenger vehicles, including electric vehicles and construction equipment and material handling vehicles, and (ii) motor vehicle services and undertaking dealership and distribution of spare parts for vehicles for a specific manufacturer.
Global Infrastructure—BlackRock Deal
The CCI has also approved the acquisition of Global Infrastructure Management, LLC by BlackRock Funding, Inc.
The proposed combination relates to acquiring 100 per cent of the limited liability company interests in Global Infrastructure Management, LLC (GIM) by BlackRock Funding, Inc (BFI).
BFI is a newly formed wholly owned subsidiary of BlackRock Inc. (BlackRock), with no independent activities. BlackRock is a U.S. publicly traded company that provides global investment management, risk management and advisory services to institutional and retail clients around the world.
BlackRock manages assets on behalf of institutional and individual investors worldwide.
GIM is a global independent infrastructure fund manager headquartered in New York City, United States.
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