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Tatas get CCI nod for $1.2 billion Bigbasket buy

Tatas get CCI nod for $1.2 billion Bigbasket buy
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Tatas get CCI nod for $1.2 billion Bigbasket buy
Digbijay Mishra & Reeba Zachariah / TNN / Updated: Apr 30, 2021, 05:40 IST
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BENGALURU/MUMBAI: The Competition Commission of India (CCI) cleared Tata Digital’s acquisition of a majority stake in Bigbasket without conditions. Tata Digital’s interest in Bigbasket first became public last October. The acquisition of a 64.3% stake in Bigbasket will make Tata Digital the leading player in e-grocery, setting the scene for a big battle with Amazon, Flipkart, JioMart and SoftBank-backed Grofers.
Tata Digital is a 100% arm of Tata Sons, the promoter of the $106-billion airline to automotive conglomerate. It will acquire 64.3% in Bigbasket’s online business-to-business arm Supermarket Grocery Supplies (SGS), the CCI said. Later, SGS will acquire ‘sole control’ over Innovative Retail Concepts (IRC), which is engaged in bu ....

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Tata BigBasket deal: Tata Group seek CCI nod to acquire Bigbasket | India Business News

MUMBAI/BENGALURU: Tata Group has sought Competition Commission of India’s approval on its deal to buy a majority stake in Bigbasket, indicating that the two enterprises have inked an agreement, it is learned. Usually, companies announce M&As before seeking regulatory nod. Since Tata Sons and Bigbasket are closely held, the two are under no obligation to announce the transaction.
Tata Sons didn’t respond to an email seeking comment, while a Bigbasket spokesperson said they had “no official comments to share at the moment”. India’s anti-trust body looks into competition issues around a deal and clamps down on unfair practices. ....

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