News Details

( As on 07/06/2023 11:04)

CCI clears deal involving Lenskart

The Competition Commission of India (CCI) has granted approval for the acquisition of a minority stake in Lenskart Solutions by Dove Investments, Defati Investments Holding BV, and Infinity Partners.

According to the notice filed with the CCI, Dove Investments, Defati Investments Holding BV, and Infinity Partners, which are private equity investors, will acquire a certain equity shareholding in Lenskart. Lenskart Solutions Pvt Ltd (LSPL) is involved in the manufacturing, sale, and wholesale trading of eyewear products.

Additionally, the CCI has also cleared the acquisition of securities of a newly established entity of Mahindra & Mahindra Ltd by the International Finance Corporation (IFC), a World Bank Group arm. The proposed combination involves IFC subscribing to compulsorily convertible preference shares (CCPS) of the new unit of Mahindra & Mahindra. This investment is part of Mahindra & Mahindra's plans to expand its last-mile electric mobility business.

Both transactions were approved by the CCI under the green channel route, which applies to transactions that do not pose a significant risk of adversely affecting competition. The CCI stated that the proposed transactions do not involve any horizontal overlaps or complementary linkages between the parties and therefore do not raise concerns about adverse effects on competition in relevant markets.