CCI okays Hyundai, Kia’s stake buy in ANI Technologies, Ola Electric

Ola Electric vehicles

The Competition Commission on Wednesday said it has approved acquisition of shares by Motor and Motors in ANI Technologies and Electric.

As per a notice, the transaction pertains to the acquisition of minority equity stake in ANI Technologies and Electric by Motor and Motors.

Fair trade regulator in a tweet said it “approves acquisition of shares in ANI Technologies and by Hyundai Motor and subject to compliance of modifications.”

“The Commission approved the proposed combination subject to the carrying of modifications proposed by Hyundai Motor Company and Corporation,” the Competition Commission of India (CCI) said in a release.

The proposed transaction does not give rise to any competition concerns, it added.

In India, ANI Technologies provides radio taxi services under the name of Ola. Further, ANI Technologies, through its subsidiary Ola Fleet Technologies, is engaged in operational leasing.

provides charging infrastructure services for in India.

Source: PTI