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Competition Comm approves Denso Corporation's stake purchase 7 per cent in Subros

Press Trust of India  |  New Delhi 

The has cleared Japan-based Corporation's additional 7 per cent stake acquisition in Subros.

With the deal, shareholding of in Subros will increase to 20 per cent from the present 13 per cent.

In a tweet on Thursday, the competition watchdog said it "approves, acquisition of 7 per cent of equity shares capital of by Corporation"

In September, the board of Subros had approved the proposal to allot 52,47,150 shares worth Rs 209 crore on preferential basis to Denso.

Mergers and acquisitions beyond a certain threshold require the approval of the of (CCI).

According to the CCI, Subros is an integrated manufacturing unit in for while Denso is a global automotive components manufacturer, headquartered in

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

First Published: Thu, November 29 2018. 20:25 IST