Fair trade regulator CCI approves Amazon-Witzig acquisition of Aditya Birla's ‘More’

By

Maverick Martins

Published
Jan 21, 2019

Indian fair trade regulator Competition Commission of India (CCI) has given its go-ahead to Samara Capital-backed Witzig Advisory Services and global firm Amazon for the acquisition of Aditya Birla Group’s retail store business.
 

Witzig Advisory Services had recently fully acquired the ‘More’ supermarket chain from Aditya Birla Retail by complying with all foreign direct investment FDI norms in India. Post the acquisition, Amazon's subsidiary Amazon NV Investment Holdings LLC had bought a 49 percent stake in Witzig.
 
Despite US-based Amazon’s investment in Witzig, the business is legally considered an Indian entity, as per FDI laws because Amazon will hold a minority stake of 49 percent.

Both the deals have now got the official nod from CCI which will come as a major relief to the companies as they can now work towards expansion of their business in the country.
 
The CCI approves the acquisition of 99.99 percent of the equity share capital of Aditya Birla Retail Limited (ABRL) by Witzig Advisory Services Private Limited", the regulator said in a tweet.
 
"It approves the acquisition of 49 percent equity share capital of Witzig Advisory Services Private Limited by Amazon.com NV Investment Holdings LLC,” CCI said in another tweet.
 
The CCI nod is expected to further boost Amazon’s retail business in the country. Amazon is expected to expand More’s network and omni-channel capabilities such as click-and-collect in future to tap the retail market in India.