Competition Commission Clears JSW Ventures' Stake Buy in MG Motor India

Competition Commission Clears JSW Ventures' Stake Buy in MG Motor India

The transaction comprises approximately 46 percent of the share capital along with certain special rights

The Competition Commission of India (CCI) has approved JSW Group’s proposed acquisition of a stake in MG Motor India Pvt Ltd, a wholly owned subsidiary of Shanghai-headquartered SAIC Motor.

The deal would be done through JSW Ventures Singapore Pte, a newly incorporated entity, which is a part of the Sajjan Jindal-led JSW Group.

As per the entities’ notice submitted to the CCI, the proposed transaction relates to the acquisition of approximately 46 percent of the share capital of MG Motor, along with certain special rights by JSW Ventures.