CCI clears Amazon-Witzig bid to acquire Aditya Birla's retail store chain
New Delhi: Fair trade regulator CCI Friday said it has approved a deal wherein Samara Capital-backed Witzig Advisory Services and Amazon will acquire Aditya Birla Retail Ltd, which operates supermarket store chain 'more'.
According to the Competition Commission of India (CCI), the deal involves acquisition of 99.99 per cent of the equity share capital of Aditya Birla Retail by Witzig and 49 per cent stake buy in Witzig by Amazon's subsidiary Amazon NV Investment Holdings LLC.
This also marks the US-based e-commerce major Amazon's second investment in the Indian brick and mortar format after it had picked up stake in the K Raheja group's retail arm Shopper Stop.
The CCI "approves acquisition of 99.99 per cent of the equity share capital of Aditya Birla Retail limited (ABRL) by Witzig Advisory Services Private Limited", the regulator said in a tweet.
Last year, Witzig had announced plans to acquire Aditya Birla Retail and as per the reports, the deal is valued at Rs 4,200 crore.