CCI Approved the following Transactions under the Green Channel Mechanism

i.     Acquisition of shares of TVS SCS by Mahogany

This notification relates to the acquisition of less than 25% of the shareholding on a fully diluted basis of TVS Supply Chain Solutions Limited (‘TVS SCS’) by Mahogany Singapore Company Pte. Limited (‘Mahogany’)[1]. Mahogany is a Singapore-based special purpose vehicle that operates as an investment holding company and has no business operations of its own. TVS SCS provides supply chain management services including contract logistics, warehousing, transportation, freight forwarding, packaging design and solutions, in-plant and aftermarket solutions, material handling, material management, free trade warehousing, infrastructure solutions and technology logistics to clients in over fifty countries across the globe.

ii.   Transfer of family shareholdings in various companies to BabaSaheb Kalyani Family Trust

This notification relates to an internal restructuring of family shareholding in Hibiscus Investment and Finance Private Limited, Peach Blossom Investment Private Limited, Rosario Investment Private Limited and Yokoha Investment Private Limited (collectively, ‘Companies’)[2]. The combination is aimed at transferring the existing family shareholding in the Companies to the Babasaheb Kalyani Family Trust (‘Family Trust’). The Companies are private limited companies that have been set up as investment holding companies engaged in the business of holding shares, debentures, advances and other securities of Babasaheb N. Kalyani (‘BNK’) group companies while the Family Trust does not operate any business in India.

[1] Combination Registration No. C-2020/2/721.
[2] Combination Registration No. C-2020/1/719.

Published In:Inter Alia Special Edition- Competition Law - March 2020 [ English
Date: March 30, 2020