CCI permits Minda to acquire up to 8.79% of equity share in Pricol

The Competition Commission of India (CCI) has approved acquisition of up to approximately 8.79% of equity shares of Pricol Limited by Minda Corporation. The CCI said in a press release that the acquirer (Minda Corporation) is engaged in manufacture of auto components and caters to original equipment manufacturers (OEMs) and tier-1 suppliers in India, while the target company (Pricol) manufactures auto components for OEMs, tier-1 and replacement markets in India and abroad. A detailed order will follow, the CCI said.