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CCI Approvals Announced on December 31, 2024.

National | Dated: 03 Jan 2025

The Competition Commission of India (CCI) approved the following key proposals on December 31, 2024:

🎯 Key Highlights:

  • - The Competition Commission of India (CCI) has approved the joint acquisition of a certain stake in Hyderabad (Telangana)-based Fourth Partner Energy Limited (FPEL), a leading renewable energy company in India. FPEL focuses on building and financing renewable energy projects.
  • - The acquisition is a collaboration between three international entities: the International Finance Corporation (IFC) from Washington, D.C. (USA) and a member of the World Bank Group (WBG), the Asian Development Bank (ADB) based in Manila (Philippines), and the German government's DEG (Deutsche Investitions- und Entwicklungsgellschaft mbH).
  • - Virginia-based Mars, Incorporated (Mars) will acquire all outstanding equity shares of Chicago-based Kellanova (formerly Kellogg Company), a Delaware corporation listed on the New York Stock Exchange (NYSE), for a total of USD 36 billion.

💡 Other Important Facts:

  • The acquisition involves Mumbai-based Authum Investment & Infrastructure Ltd. (Authum), a Non-Banking Finance Company (NBFC) registered with the Reserve Bank of India (RBI), along with Ms. Mahi Madhusudhan Kela, acquiring 72.89% of the voting share capital in Indore-based Prataap Snacks Limited, a prominent snack manufacturer in India.

📚 Test Your Knowledge:

Which company did the CCI approve Recently the joint acquisition of a certain stake in December 31, 2024?

Correct Answer: Fourth Partner Energy Limited (FPEL)

🚀 Quick Recap:

About CCI

  • Chairman : Ravneet Kaur
  • Headquarters : New Delhi