CCI clears Reliance’s Metro Cash & Carry buy, 2 others

The Competition Commission of India (CCI) on Tuesday approved three acquisitions, including that of Metro Cash and Carry by Reliance Retail. 

“Commission approves acquisition of Metro Cash and Carry India by Reliance Retail Ventures,” the CCI said in a tweet.

Reliance Industries (RIL) had in December last year agreed to acquire Metro Cash and Carry for `2,850 crore. The transaction was done through its subsidiary, Reliance Retail.

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Meanwhile, the CCI also approved the acquisition of 100% of equity share capital of L&T Infrastructure Development Projects and Kudgi Transmission by Epic Concesiones and Infrastructure Yield Plus II (affiliates of Edelweiss Group), respectively, the regulator said in another tweet.

It also cleared the sole control of Meritor by global power and technology major Cummins Inc. Meritor is a global supplier of axles, brakes and other modules and components to OEMs and the aftermarket for the commercial vehicle, transportation and industrial sectors and operates in India through three consolidated subsidiaries.