Tata Digital to acquire majority stake in online healthcare, 1MG Technologies
Tata Digital Ltd, a wholly-owned arm of Tata Sons, on Thursday said it will acquire a majority stake in 1MG Technologies Ltd, an online healthcare marketplace.
The company, however, did not disclose the financial details of the transaction.
Just days after the company said it will invest $75 million (around Rs 550 crore) in fitness-focused Curefit Healthcare for an undisclosed stake, Tata Digital said its investment in 1MG is in line with Tata Group s vision of creating a digital ecosystem which addresses the consumer needs across categories in a unified manner.
Tatas deal to buy up to 64.3 pc stake in BigBasket gets CCI approval
NEW DELHI, Apr 29: Competition Commission of India has approved Tatas’ proposal to acquire up to 64.3 per cent stake in BigBasket, a deal that will provide the diversified group a strong foothold in the fast-growing online grocery market.
Under the deal, Tata Digital Ltd (TDL) will purchase up to 64.3 per cent of the total share capital of Supermarket Grocery Supplies Pvt Ltd (SGS) as well as SGS sole control over Innovative Retail Concepts Pvt Ltd.
SGS is into B2B (business-to-business) sales through the portal business.Bigbasket.Com.
5 hours ago
The Competition Commission of India on Thursday cleared the Tata Group’s acquisition of BigBasket. Publishing its approval in a tweet, the CCI did not suggest any changes to the acquisition which is reported to be worth Rs 9,500 crore.
The CCI has approved Tata Digital Ltd’s acquisition of up to 64.3% of the total share capital of Supermarket Grocery Supplies Pvt. Ltd. which is engaged in online business-to-business transactions through business.bigbasket.com. The entity also operates bigbasket.com and related mobile applications. In a subsequent and separate transaction, SGS may acquire sole control over Innovative Retail Concepts Private Limited (IRC), which is into online retailing.
Tatas deal to buy up to 64.3 per cent stake in BigBasket, gets CCI approval
The deal involves TDL buying 64.3 per cent of the total share capital of SGS (on a fully diluted basis) through a combination of primary and secondary acquisitions, in one or more series of steps.
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NEW DELHI: Competition Commission of India has approved Tatas proposal to acquire up to 64.3 per cent stake in BigBasket, a deal that will provide the diversified group a strong foothold in the fast-growing online grocery market.
Under the deal, Tata Digital Ltd (TDL) will purchase up to 64.3 per cent of the total share capital of Supermarket Grocery Supplies Pvt Ltd (SGS) as well as SGS sole control over Innovative Retail Concepts Pvt Ltd.
The Competition Commission of India (CCI) has approved Tata Digital s proposed acquisition of 64.3 per cent stake in Supermarket Grocery Supplies Private Ltd (SGS), which operates the business-to-business arm of the online grocery firm .