The Competition Commission of India (CCI) has approved the proposed acquisition of certain shareholding in Renault Nissan Automotive India Private Limited by Renault Group B.V. and its nominee, Renault S.A.S.
The deal involves the purchase of equity shares and fully paid-up zero-coupon non-convertible redeemable preference shares currently held by Nissan Motor Company Ltd. and Nissan Overseas Investments B.V.
Renault Group B.V. (Acquirer 1) and Renault S.A.S (Acquirer 2) are both part of the Renault Group, which is engaged globally in the design, manufacture, and distribution of vehicles and related services. The target entity, Renault Nissan Automotive India, manufactures and assembles passenger vehicles, transmissions, and vehicle components for both Renault and Nissan in India.