The Competition Commission has given its nod to the proposed subscription of shares of ANI Technologies, which operates cab aggregator Ola, by Copper Technology.
In a tweet, the Competition Commission of India (CCI) said that it has approved share subscription in ANI Technologies by Copper Technology.
ANI Technologies is a software service provider primarily engaged in providing internet and mobile technology platforms for taxi-hailing by commuters (under the brand name Ola).
Copper Technology is an investment holding company incorporated in Singapore.
In another tweet, CCI said that it has approved the merger between Clariant and Huntsman Corporation.
According to a notice submitted to the regulator, the proposed combination was contemplated to be a reverse triangular merger between Clariant, HurricaneCyclone Corporation, and Huntsman Corporation.
In a reverse triangular merger, a company, through its subsidiary, acquires another firm.
HurricaneCyclone Corporation is a wholly-owned subsidiary of Clariant, a public company formed under the laws of Switzerland, and is active in the production and worldwide distribution of specialty chemicals.
Huntsman Corporation is also engaged in the manufacture and worldwide distribution of chemicals.
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