CCI Approves Mitsubishi Corporation's Stake Acquisition in TVS Group

The Competition Commission of India (CCI) has approved Mitsubishi Corporation’s acquisition of an equity stake in TVS Certified Private Limited and TVS Vehicle Mobility Solution Private Limited. The proposed combination involves Mitsubishi Corporation (Acquirer) acquiring stakes in TVS Certified Private Limited (Target 1) and TVS Vehicle Mobility Solution Private Limited (Target 2).

Mitsubishi Corporation, a global integrated business enterprise, operates in various industries including natural gas, industrial materials, petroleum & chemicals, automotive and mobility, and urban development, among others. The corporation has a vast presence with offices and subsidiaries in 90 countries and regions, and around 1,700 group companies worldwide.

Target 1, TVS Certified Private Limited, will focus on selling used vehicles through auctions, primarily in physical auction yards. Target 2, TVS Vehicle Mobility Solution Private Limited, will engage in dealership and distribution of commercial and passenger vehicles, including electric vehicles, as well as providing motor vehicle services and dealing in spare parts for specific manufacturers.

In addition, the CCI has approved BlackRock Funding, Inc.'s acquisition of Global Infrastructure Management, LLC. The proposed combination involves BlackRock Funding, Inc. (BFI) acquiring 100% of the limited liability company interests in Global Infrastructure Management, LLC (GIM).

BFI is a newly formed, wholly owned subsidiary of BlackRock Inc., which is a globally recognized company providing investment management, risk management, and advisory services. BlackRock manages assets for institutional and individual investors worldwide.

GIM, headquartered in New York City, is a global independent infrastructure fund manager.

HBL