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Competition Comm clears SoftBank's 22.44 pc stake buy in Delhivery

twitter-logo PTI        Last Updated: February 27, 2019  | 18:22 IST

New Delhi, Feb 27 (PTI) The Competition Commission of India (CCI) Wednesday said it has approved the acquisition of 22.44 per cent stake in logistics firm Delhivery by SoftBank Vision Fund. The deal is worth over Rs 3,200 crore, according to reports. According to a filing to the CCI, the deal involves subscription of 22.44 per cent of the total share capital of Delhivery and consequently "potential subsequent acquisition of shares at a price and on such terms to be agreed." The Japanese company will invest in the logistics firm through its holding company SVF Doorbell. In a tweet, the CCI said it "approves acquisition of 22.44 per cent of the total share capital of Delhivery Pvt Ltd (on fully diluted basis) by SVF Doorbell (Cayman) Ltd". SoftBank Vision Fund is a venture capital fund focused on making long-term financial investments in companies, and Gurugram-based Delhivery is engaged in the market for third-party logistics services in India. In a separate tweet, the fair trade regulator approved the acquisition of preference shares in Delhivery by CA Swift Investments through share subscription agreement. CA Swift is incorporated in Mauritius and is a special purpose vehicle, which is owned and controlled by the Carlyle Group. The group, the US-based multi-product global alternative asset manager, makes investments in various sectors across the world. PTI VHP SHW HRS

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