The Competition Commission of India (CCI) approves acquisition of the stake in Ecom by PG Esmeralda.
The proposed combination envisages acquisition of the stake in Ecom Express Private Limited (Ecom) by PG Esmeralda Pte. Limited (PG Esmeralda).
PG Esmeralda is controlled by investment entities that are ultimately controlled by Partners Group AG or its affiliates (Partners Group). Partners Group is said to be a global private market investment manager, headquartered in Switzerland. It invests in a variety of companies in sectors such as IT and IT-enabled services, healthcare, real estate, consumer products, banking and non-banking financial services.
Ecom is a company incorporated in India. It carries on the business of providing third-party logistics (3PL) services in India.
Detailed order of the CCI will follow.