Fair trade regulator CCI has approved the proposed deal involving Toshiba Corporation and TBJH Inc, an indirect subsidiary of private equity firm Japan Industrial Partners.
The deal has been cleared under the green channel route.
The combination relates to TBJH Inc acquiring the complete shareholding of Toshiba Corporation.
Toshiba is a Japanese multinational conglomerate.
In March, TBJH Inc announced that it will buy out all of Toshiba’s shares listed on the Nagoya and Tokyo stock exchanges and take the business private.
The Competition Commission of India (CCI) said it has cleared the deal.
“The parties (including their affiliates) activities do not exhibit any horizontal, vertical, or complementary overlaps in any of the plausible relevant markets in India.
“The proposed combination is being notified under the green channel route,” according to an update on CCI’s website on Tuesday.
Under the green channel route, a transaction which does not raise any risk of an appreciable adverse effect on competition is deemed to be approved on being intimated to the anti-trust regulator.
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First Published: Aug 02 2023 | 10:22 PM IST