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CCI approves deal involving SoftBank Group entity buying stake in Swiggy

Competition Commission of India (CCI) on Monday gave its nod for a proposed deal involving SoftBank Group entity purchasing a stake in food ordering and delivery platform Swiggy

Topics
Competition Commission of India | Swiggy | SoftBank

Press Trust of India  |  New Delhi 



Swiggy
Photo: Bloomberg

(CCI) on Monday gave its nod for a proposed deal involving Group entity purchasing a stake in food ordering and delivery platform .

SVF II Songbird (DE) LLC would acquire certain shareholding percentage in Bundl Technologies Pvt Ltd, according to a notice filed with the regulator.

SVF belongs to the Group and is a newly incorporated entity set up to make mid to long-term financial investments in .

Bundl is a private limited company incorporated in India and is engaged in operating Swiggy, as per the notice.

The deal is likely to peg the valuation of at $5 billion, a source had said in April.

In a tweet on Monday, CCI said it has approved the "proposed acquisition of certain stake in Bundl Technologies (Swiggy) by SVF II Songbird ( Group entity)".

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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First Published: Mon, July 12 2021. 20:10 IST

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