CCI okays Hyundai, Kia’s stake buy in ANI Technologies, Ola Electric


NEW DELHI: The Competition Commission on Wednesday said it has approved acquisition of shares by Hyundai Motor and Kia Motors in ANI Technologies and Ola Electric. As per a notice, the transaction pertains to the acquisition of minority equity stake in ANI Technologies and Ola Electric by Hyundai Motor and Kia Motors.

Fair trade regulator in a tweet said it “approves acquisition of shares in ANI Technologies and OLA Electric by Hyundai Motor and Kia Motors subject to compliance of modifications.”

“The Commission approved the proposed combination subject to the carrying of modifications proposed by Hyundai Motor Company and Kia Motors Corporation,” the Competition Commission of India (CCI) said in a release.

The proposed transaction does not give rise to any competition concerns, it added.

In India, ANI Technologies provides radio taxi services under the name of Ola. Further, ANI Technologies, through its subsidiary Ola Fleet Technologies, is engaged in operational leasing.

Ola Electric provides charging infrastructure services for electric vehicles in India.


Source link

Ben Affleck Might Not Be Returning as Batman After All, According to Brother Casey

Amazon Slashes $160 off the Kate Spade and Michael Kors Smartwatches