The Competition Commission of India (CCI) granted clearance on Tuesday to Mirae Group entities for their acquisition of a minority stake in Shadowfax Technologies. The Mirae Group entities, involved in venture investments, are under the direct or indirect control of the global investment manager Mirae Group.
In a social media post on Tuesday, the CCI confirmed, “The commission approves the proposed acquisition of a minority stake in Shadowfax Technologies Private Limited by the Mirae Group Entities.”
Shadowfax Technologies specializes in providing logistics services, including third-party (3P) logistics services within the country.
Notably, transactions exceeding a specified threshold necessitate approval from the regulator, the CCI, which actively monitors and regulates against unfair business practices while fostering an environment of fair competition in the marketplace. This regulatory clearance underscores the compliance and approval required for strategic acquisitions within the Indian business landscape.