CCI Approves Investment by Kora Master Fund LP in Edelweiss Securities Limited and Edelweiss Global Investment Advisory business

On October 15, 2019, CCI approved the investment by Kora Master Fund LP (‘Kora’) in Edelweiss Securities Limited and Edelweiss Global Investment Advisory business (including its subsidiaries) (together, ‘Target Entities’). The Target Entities are engaged in the business of asset management, wealth management, capital markets, and advisory and asset reconstruction, where as Kora is a foreign portfolio investor registered with the Securities Exchange Board of India (‘SEBI’).[1]

While approving the investment, CCI noted absence of (i) any vertical relationships between Kora and the Target Entities; and (ii) any horizontal overlaps between them, barring a minority investment of Kora in some companies in India engaged in the provision of loans / credit.

[1] Combination Registration No. C-2019/08/681.

Published In:Inter Alia Special Edition - Competition Law - January 2020 [ English
Date: January 17, 2020