The Competition Commission has approved stake acquisition in logistics firm Delhivery by Canada Pension Plan Investment Board (CPPIB).
The deal is related to the acquisition of up to 8 per cent equity stake in Delhivery through a secondary purchase from existing shareholders of the logistics firm by CPPIB, as per the notice submitted to the Competition Commission of India (CCI).
The CCI "approves the acquisition of shares in Delhivery Private Limited by Canada Pension Plan Investment Board," the regulator said in a tweet on Tuesday.
CPPIB is a professional investment management organisation. It is governed and managed independently of the Canada Pension Plan and at arm's length from the government, while Delhivery is engaged in the provision of third party logistics services in India.
Deal beyond certain levels requires approval from Competition Commission of India.
Disclaimer: No Business Standard Journalist was involved in creation of this content