Competition Commission Clears Avendus Capital-Mizuho Securities Merger

Competition Commission Approves Proposed Deals Worth Millions

The Competition Commission of India (CCI) has cleared two significant deals, paving the way for major business expansions in the country. The first deal involves the proposed purchase of shares in merchant banker Avendus Capital Pvt Ltd by Mizuho Securities Co Ltd, a subsidiary of Japan's Mizuho Financial Group.

Avendus Capital, a Sebi-registered merchant banker, has a global presence through its subsidiaries in India, Singapore, the US, and the UK. The clearance from the CCI has given a green signal to the proposed acquisition, which is expected to strengthen Mizuho Securities' presence in the Indian market.

In another significant development, the CCI has approved the proposed merger of A1 Agri Global Ltd, BN Agritech Ltd, and Salasar Balaji Overseas Pvt Ltd into BN Agrochem Ltd (BNAC). The merged entity, BNAC, will be involved in the procurement and trading of soybean oil and palmolein oil, while BNA will focus on the procurement of crude edible oils, refining, repackaging, and trading.

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The CCI has also given its nod for the acquisition of stakes in certain entities by MAIF 4 Investments India 2 Pte Ltd, an investment vehicle wholly-owned by the Macquarie Asia-Pacific Infrastructure Fund 4. MAIF 4 will buy a 42.5% stake in Maple IM, a 40% shareholding in Maple PM, and up to 37.5% of the units of Maple Trust.

Maple Trust, through its special purpose vehicles, is engaged in the business of owning and operating road assets (through government concessions) in India. The CCI's approval for this deal is expected to facilitate the expansion of MAIF 4's business interests in the Indian infrastructure sector.