CCI approves acquisition of 100% shareholding of Ingram Micro by Imola

The Competition Commission of India (CCI) has approved proposed acquisition of 100 per cent shareholding and sole control of Ingram Micro Inc by Imola Acquisition Corporation.

The proposed combination relates to acquisition of Ingram together with its parent companies GCL Investment Management Inc and GCL Investment Holding Inc besides its direct and indirect subsidiaries.

Imola is a newly incorporated entity belonging to Platinum Equity Group which specialises in merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of businesses, including information technology, telecommunications, logistics, metal services, manufacturing and distribution.

Ingram Micro is a US headquartered IT company that specialises in technology distribution and logistics, cloud solutions and e-commerce supply chain services.

The Ministry of Corporate Affairs said in a statement on Monday that a detailed order will follow soon.