The Competition Commission of India (CCI) has approved the acquisition by Tata Digital of up to 64.3 per cent of Supermarket Grocery Supplies (SGS) and its sole control over Innovative Retail Concepts (IRC), the company that runs BigBasket. The proposed combination involves acquisition through a combination of primary and secondary acquisitions in one or more series of steps. Through a separate transaction, SGS may acquire sole control over IRC, the Ministry of Corporate Affairs said in a statement on Thursday.
BigBasket is currently the leader in the online grocery segment and claims to have crossed the one billion dollar annual revenue run rate.
Merger and acquisitions jump over 17 per cent to USD 25.3 billion in Q1: Report
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Last Updated: Apr 22, 2021, 05:45 PM IST
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Though the deal value jumped 17.4 per cent to USD 25.3 billion across 97 deals, over USD 21.6 billion across 122 deals, which means the deal volume is down 20.5 per cent during the same period over the same period last year, Mergermarket said in the report.
Agencies
However, domestic M&As plunged 1.5 per cent in value to USD 9.9 billion across 54 deals, over USD 14.5 billion in 70 transactions.
Merger and acquisitions surged 17.4 per cent in the March quarter to USD 25.3 billion across 97 deals, according to a report. According to the report collated by Mergermarket, relaxation in the pandemic restrictions as well as investor optimism due to vaccines roll-out and government stimulus have helped the delay activities.
M&As jump over 17% to $25.3 bn in Q1: Report
According to the report collated by Mergermarket, relaxation in the pandemic restrictions as well as investor optimism due to vaccines roll-out and government stimulus have helped the delay activities.
pexels
Merger and acquisitions surged 17.4 per cent in the March quarter to USD 25.3 billion across 97 deals, according to a report.
According to the report collated by Mergermarket, relaxation in the pandemic restrictions as well as investor optimism due to vaccines roll-out and government stimulus have helped the delay activities.
But, it is unlikely to sustain into the second quarter given the ferocity of the second wave, even though pharma and technology firms are expected to continue to attract investments, it added.
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