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CCI nod for acquisition of equity of Shiprocket by MUFG Bank

Published: Dec 04, 2024

By TIOLCorplaws News Service

NEW DELHI, DEC 04, 2024: THE Competition Commission of India (CCI) has approved the acquisition of certain shareholding of Shiprocket Private Limited by MUFG Bank, Ltd.

The Proposed Combination envisages acquisition of certain shareholding of Shiprocket Private Limited (Target) by MUFG Bank, Ltd. (Acquirer).

The Acquirer is incorporated in Japan and is a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc. (MUFG), being the ultimate parent company. It is engaged in banking services in India.

The Target operates a logistics platform whereby it provides logistics services to other businesses, domestically and internationally, through logistics service providers listed on its platform.

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