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CCI grants approval for IBEF-IV acquisition of VVDN Technologies.

In the field of original design manufacture and electronic manufacturing services, VVDN Technologies is a major player on the global stage. Using a mix of secondary share purchases and a subscription to compulsorily convertible debentures, IBEF-IV, an alternative investment fund registered with SEBI, will buy a stake in VVDN Technologies.

HIGHLIGHTS

  • The purchase of a share in VVDN Technologies by India Business Excellence Fund-IV (IBEF-IV) has received permission from the Competition Commission of India (CCI).
  • According to the green channel procedure, which declares acquisitions as allowed if they are informed to the anti-trust agency and pose no danger of having a significant unfavorable effect on competition.
  • According to the CCI website update, there is no significant danger that the proposed combination will have a negative impact on competition in any key market.

The purchase of a share in VVDN Technologies by India Business Excellence Fund-IV (IBEF-IV) has received permission from the Competition Commission of India (CCI). According to the green channel procedure, which declares acquisitions as allowed if they are informed to the anti-trust agency and pose no danger of having a significant unfavorable effect on competition. PTI reported the development.The purchase of a share in VVDN Technologies by India Business Excellence Fund-IV (IBEF-IV) has received permission from the Competition Commission of India (CCI). According to the green channel procedure, which declares acquisitions as allowed if they are informed to the anti-trust agency and pose no danger of having a significant unfavorable effect on competition. PTI reported the development.

In the field of original design manufacture and electronic manufacturing services, VVDN Technologies is a major player on the world stage. Using a mix of secondary share purchases and a subscription to compulsorily convertible debentures, IBEF-IV, an alternative investment fund registered with SEBI, will buy a stake in VVDN Technologies.

Given that there are no overlaps between the parties or any horizontal, vertical, or complementary overlaps between the respective groups that the acquirer and the target belong to, CCI claims that the proposed combination does not pose any risk of having a noticeably negative impact on competition in any relevant market.

According to the CCI website update, there is no significant danger that the proposed combination will have a negative impact on competition in any key market. The green channel approach assures prompt clearance for deals that don’t threaten the market.

The transaction’s approval indicates a rise in interest in alternative investment funds in the Indian market, which is encouraging for the nation’s expanding startup environment. India’s startups, which have seen a major increase in funding in recent years, have attracted the attention of alternative investment groups.

IBEF-IV’s investment in VVDN Technologies will give the business the money it needs to grow internationally and create new technologies. The “Atmanirbhar Bharat” campaign is being promoted by the Indian government.

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Written by Shallu Srivastav

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