CCI approves proposal for formation of Honda Motor, Hitachi joint venture

By way of the proposed combination, HAMCL and Hitachi will jointly control the integrated company, the notice filed with regulator said

Fairtrade regulator on Tuesday said it has approved a combination proposal filed jointly by Keihin Corporation, Nissin Kogyo Co. Ltd., Showa Corporation and Hitachi Automotive Systems Ltd to form a joint venture between Honda Motor Co Ltd (HAMCL) and Hitachi Ltd.
 

The proposed combination pertains to Keihin Corporation, Nissin Kogyo, Showa Corporation and Hitachi Automotive Systems (HIAMS) forming a joint venture between HAMCL and Hitachi Ltd, according to a press release.

The transaction entails HAMCL's acquisition of additional shares to convert its affiliates -- Keihin Corporation, Nissin Kogyo and Showa Corporation -- as its wholly-owned subsidiaries, following which the entities