Fair trade regulator CCI has approved the proposed acquisition of EcoEnergy business of IT major Wipro by Chubb Alba Control Systems.
Wipro, in November last year, announced it would sell its EcoEnergy division to Chubb Alba Control Systems for USD 70 million.
In a tweet today, the Competition Commission of India (CCI) said it has approved "acquisition of Wipro's EcoEnergy business unit by Chubb Alba Control Systems Limited".
Chubb Alba is an indirect subsidiary of United Technologies Corporation (UTC), which is a major US multinational with around 2 lakh employees.
Since this is a sale of business division, there will be no consequent change in shareholding pattern of the company Wipro had said.
The regulator has also given its green signal to the acquisition of Mawana Sugar's Titawi sugar plant by Indian Potash.
In a separate tweet, the Commission said it has cleared "acquisition of Titawi Sugar Plant of Mawana Sugar Ltd by Indian Potash Ltd".
Through another tweet, the watchdog gave its nod to Intel Corporation and TPG to establish a jointly-owned, independent cyber security company.
"CCI India approves acquisition of majority equity stake of Intel's security business by TPG Group," the regulator said.
As per the deal, the new company would be called McAfee in which TPG will own 51 per cent stake and Intel will own remaining 49 per cent.
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