CCI Consents To Temasek’s Acquisition Of Stake In Speed JVco

CCI Consents To Temasek’s Acquisition Of stake In Speed JVco

The Competition Commission of India (CCI) has cleared the proposal of Ramon Investments Pte to acquire a stake in Speed JVco.

Ramon is an arm of Singapore-headquartered Temasek Holdings, an investment company. As of March 2024, the sovereign wealth fund owns a Singapore Dollar (SGD) 389 billion portfolio of assets.

The CCI said in a release, "The proposed combination involves the acquisition of a certain stake of the target (Speed JVco) by the acquirer (Ramon Investments). The Commission approves the acquisition.”

Speed JVco and its affiliates offer visa outsourcing, travel-related and consular services to governments and diplomatic missions. It also facilitates travel insurance, itineraries, hotel reservations and ancillary services, including sim cards and forex facilities.