CCI approves acquisition of minority stake in Ltd by Claymore Investments (Mauritius) Pte. Limited

On January 10, 2019, pursuant to the execution of transaction documents dated November 16, 2018, CCI approved acquisition of 0.12% in IndiaIdeas by Claymore Investments (Mauritius) Pte. Limited (‘Claymore Investments’) (collectively referred to as ‘Parties’).[1]

Claymore Investments is an indirect wholly owned subsidiary of Temasek Holdings (Private) Limited (‘Temasek’). The services offered by IndiaIdeas have been set out above. It was noted that Claymore Investments was an existing shareholder of IndiaIdeas holding 8.75%. After the consummation of the transaction, Claymore Investments’ shareholding would increase to 8.87%. CCI noted that Claymore Investments would not secure any additional rights and hence, the said acquisition was unlikely to result in any change in competition dynamics.  In view of the above, CCI approved the combination.

[1] Combination Registration No. C- 2018/12/623

Published In:Inter Alia Special Edition- Competition Law - March 2019 [ English
Date: March 1, 2019