The Competition Commission of India (CCI) on Tuesday said it has approved Minda Corporation's proposed 8.79% stake purchase in Pricol.
Minda Corporation is in the business of manufacturing of auto components and caters to Original Equipment Manufacturers and Tier-1 in various segments in India.
The proposed combination relates to an acquisition of up to 8.79% (approx.) of the equity share capital of Pricol by Minda, according to a release.
Pricol manufactures automobile components for OEMs, Tier-1 and replacement markets across India and globally.
Deals beyond a certain threshold require approval from the regulator CCI.
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