The Competition Commission of India has approved the proposed acquisition of certain shareholding of Renault Nissan Automotive India Private Limited by Renault Group B.V. and Renault S.A.S.

The proposed combination involves the acquisition of equity shares and fully paid-up zero-coupon non-convertible redeemable preference shares held by Nissan Motor Company Ltd. Japan (Nissan) and Nissan Overseas Investments B.V. (Nissan Overseas) (collectively, “Sellers”) in the Renault Nissan Automotive India Private Limited (Target) by Renault Group B.V. (Acquirer 1) and its nominee, Renault S.A.S (Acquirer 2) (Proposed Combination).

Acquirer 1 designs, manufactures, and markets passenger cars, light commercial vehicles and electric vehicles, and provides mobility services worldwide.

Acquirer 2 is engaged in the study, construction, trading, repair, maintenance and rental of motor vehicles, including the study and manufacture of parts and equipment used for the construction or operation of vehicles. Acquirer 2 is also engaged in the provision of services related to the aforementioned business activities. Both Acquirer 1 and Acquirer 2 are ultimately controlled by Renault S.A. (Renault) and form part of the Renault Group.

Renault Nissan Automotive India Private Limited (Target) is engaged in the manufacturing and assembly of passenger vehicles, including transmissions, vehicle parts and provision of related services to Renault and Nissan.

Detailed order of the Commission will follow.

 

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(Release ID: 2149551)