 "joint venture, mergers")
The Competition Commission has approved Mahindra & Mahindra's acquisition of majority stake in a wholly-owned subsidiary of Ford Motor Co, which will create a joint venture in the country.
In October last year, M&M said it would buy 51 per cent stake in Ardour Automotive Pvt Ltd for around Rs 657 crore.
In a tweet on Monday, the Competition Commission of India (CCI) said it has approved "formation of JV between Mahindra & Mahindra and Ford Motor and transfer of automotive business of Ford India to the JV".
The remaining stake of 49 per cent in Ardour Automotive would be
