On February 27, promoter Sion Investments, an affiliate of Baring Private Equity Asia, unloaded its entire 26.68 percent stake in CMS Info Systems through open market
The release issued by the CCI regarding the stake purchase clearly stipulates that the "approval is without prejudice to the proceedings that may be initiated under Section 43A, 44 and/or 45 of the Competition Act, 2002", a Religare Enterprises spokesperson said. The spokesperson said it was in connection with the combination notice issued by the acquirers forming part of the Burman Group in relation to the open offer to the shareholders of Religare Enterprises.
Siemens AG, along with its subsidiary held a 51 percent stake in Siemens India. Post the 18 percent stake buy, Siemens AG s standalone shareholding will increase to 69 percent in Siemens India.