Competition Commission of India (CCI) has approved Zomato’s bid for acquiring 9.3 per cent stake in online grocer Grofers, marking the food delivery giant’s entry into online grocery retail segment.
“CCI approves proposed combination involving acquisition by Zomato Limited (Zomato) of about 9.3 per cent stake in each of Grofers India Private Limited (Grofers India) and Hands on Trades Private Limited (HoT) along with certain rights in each of the Targets”, said an official release.
It maybe recalled that Zomato had recently invested $100 million for acquiring a minority stake in Grofers.
While Grofers India operates an e-commerce marketplace, Hands on Trade (HoT) is a B2B wholesale entity that procures products from brands and manufacturers.
Grofers International is holding company of both Grofers India and HoT.
ANI Technologies
Meanwhile, the CCI has, in a separate move, approved the acquisition of shares by Plum Wood in ANI Technologies.
The proposed combination envisages the acquisition of shareholding and certain rights in ANI Technologies by Plum Wood Investment. This proposed combination also envisages the acquisition of certain voting rights by Bhavish Agarwal in ANI Technologies.
Plum Wood is an investment holding company. Shareholders of Plum Wood are certain private equity funds managed by Warburg Pincus LLC. Warburg Pincus is headquartered in New York United States.
ANI is engaged in operating an internet and mobile technology platform which provides taxi and auto rickshaw aggregation services under the brand name of Ola. ANI through its subsidiaries is engaged in the business of manufacturing and selling food, digital payments etc.