New Delhi: The Competition Commission of India (CCI) has approved the proposed acquisition of electronic products distributor Ingram Micro by China's Tianjin Tianhai Investment Company (TTIC) and GCL Acquisition.
Ingram is active in distribution/logistics and related services for IT products and other electronic products.
TTIC provides shipping services through five China-South Korea shipping routes, and three domestic shipping routes.
It is solely controlled by HNA Group -- which has interests in aviation, real estate, financial services, tourism and logistics, among others.
In a tweet, CCI said it has approved "acquisition of shares in Ingram Micro Inc by Tianjin Tianhai Investment Company Ltd and GCL".
GCL is an investment vehicle and is not engaged in the manufacture or supply of any products, or provisions of any services worldwide.
As per the notice submitted to CCI, the relevant market for this case would be "the market for the wholesale distribution of electronic products and related services in India".
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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