CCI gives nod to Rs 1500-crore deal of Aditya Birla-Flipkart

The Competition Commission of India (CCI) has approved the ₹1,500-crore Flipkart-Aditya Birla Fashion deal, which was announced in October last year. The Flipkart Investments Private Limited (FIPL) will now hole 7.8% of a minority stake in Aditya Birla Fashion. The issue was raised on a preferential basis to Walmart-owned Flipkart.

The commission in a tweet on Wednesday said, “Commission approves acquisition of a 7.8% minority stake in Aditya Birla Fashion and Retail Ltd. by Flipkart Investments Private Ltd.”

The promoter and its group companies of ABFRL will hold about 55.13 per cent upon completion of the issuance, ABFRL said in a regulatory filing earlier.

Aditya Birla Fashion Retail operates brands such as Pantaloons, Allen Solly and Peter England has over 3,000 stores across the country and the Walmart Group undertakes various business activities in India, such as wholesale trading of products, providing e-commerce marketplace services, and digital payments services.

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