CCI Penalises Allcargo Logistics ₹50 Lakh For Closing Gati Express Deal Without Prior Approval

The Competition Commission of India (CCI) has recently imposed a penalty of Rs 50 lakh on Allcargo Logistics Limited after finding that its acquisition of the remaining stake in Gati Express led to a change from joint control to sole control and was completed without prior notification. Before the deal, Allcargo held a 70% stake in Gati Express through its subsidiary, while KWE owned the remaining 30%. Even so, the Commission noted that KWE's holding gave it the power to block special...

CCI Approves Elliott-Managed Funds' Proposed Stake Purchase In Toyota Industries

The Competition Commission of India (CCI) has approved a proposal involving the acquisition of equity shares and voting rights in Toyota Industries Corporation by funds managed by US-based Elliott Investment Management. Under the approval, Elliott Associates L.P., Elliott International L.P. and The Liverpool Limited Partnership will acquire shares of Toyota Industries through on-market purchases on the Tokyo Stock Exchange and the Nagoya Stock Exchange. As the transaction involves the...