CCI approves Flipkart's acquisition of 7.8% stake in Aditya Birla Fashion
Flipkart and Aditya Birla Fashion had announced the agreement in October last year.
January 20, 2021 / 08:51 PM IST
According to the BSE filing by Flipkart, the company would be acquiring shares equivalent to 7.8 percent in the company at a price of Rs 205 each.
The Competition Commission of India (CCI) on January 20 approved a Rs 1,500 crore deal between Aditya Birla Fashion and Flipkart, which allows the latter to acquire a minority stake of 7.8 percent in the Birla Group-linked entity."Commission approves acquisition of a 7.8% minority stake in Aditya Birla Fashion and Retail Ltd by Flipkart Investments Pvt Ltd," the CCI, which is India’s nodal anti-trust regulator, said in a social media update.