The Competition Commission has approved the proposed acquisition of Emerson Electric's Network Power business by Platinum Equity and a group of co- investors.
As per the deal valued at USD 4 billion, Emerson would retain a subordinated interest in Network Power business.
Emerson Network Power designs, manufactures and services mission-critical infrastructure technologies for vital applications in large data centres, major communication networks and critical industrial environments.
Competition Commission of India (CCI) has approved the deal, as per the regulator's website.
In August, Emerson announced the sale of its Network Power business to Platinum Equity group.
According to a filing to the watchdog, the transaction agreement is structured as a stock as well as asset purchase pact.
Emerson provides innovative solutions for customers in industrial, commercial, and consumer markets.
A private equity group, Platinum specialises in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of businesses.
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