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Wirecard-Citibank deal, 2 other transactions get CCI approval

Press Trust of India  |  New Delhi 

The Competition Commission has approved the of merchant acquiring business of Citibank by Wirecard and two other deals.

In a tweet, the Competition Commission of (CCI) said that it has approved the "of merchant acquiring business of Citibank by Wirecard".

While the acquirers in the are Wirecard Acquiring & Issuing, Wirecard Sales International Holding, Wirecard Technologies and Wirecard India, the sellers are Citibank, NA and Citibank Overseas Investment Corporation (COIC).

Of the four Wirecard entities, Wirecard is engaged in the business of processing services for major banks in the country.

Citibank NA, headquartered in the US, offers consumer finance, credit cards, mortgage lending and retail products and services. The COIC does not have any business operations of its own in

In another tweet, the fair trade regulator said that it has approved "of GE India Industrial Private Limited's lighting business by VL India".

VL India is engaged in the manufacturing and trading of lighting products and related accessories.

GE India Industrial Pvt Ltd has operations in various business segments including software, infrastructure, lighting products and oil and gas.

In a separate tweet, the CCI said that Integra's acquisition of Codman Neurosurgery business owned DePuy has also been approved.

The US-based Integra is a global medical technology company. DePuy, a subsidiary of Johnson & Johnson, manufactures orthopaedic and neurological devices.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 17 2017. 18:57 IST