New Delhi, Jan 7 (PTI) Fair trade regulator CCI on Tuesday approved US-based global investment firm Carlyle's proposal to acquire a 68.9 per cent stake in Roop Automotives Ltd.

"The proposed combination involves certain inter-connected steps resulting in inter alia securities swap between HIL Shareholder and RAL, and the acquisition of up to 68.9 per cent shareholding in RAL by Investor," the regulator said in a release.

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CA Carob Investments (investor) is a Mauritius-based special-purpose vehicle owned and controlled by affiliates of the Carlyle Group Inc (Carlyle). As of September 30, 2024, Carlyle has USD 447 billion of assets under management.

Roop Automotives Ltd (RAL) and Highway Industries Ltd (HIL) are engaged in the manufacturing and selling of auto components.

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"Commission approves the proposed combination involving inter-connected steps resulting in inter alia the acquisition of up to 68.9 per cent shareholding in Roop Automotives Ltd by CA Carob Investments (Investor)," CCI said.

In another release, the Competition Commission of India (CCI) cleared the proposed acquisition of 21 Special Purpose Vehicles (SPVs) -- owning renewable power generation plants and holding companies of certain SPVs -- by Gentari Renewables India Pte Ltd.

Gentari Renewables India is an indirect subsidiary of Petroliam Nasional Berhad. It is focused on delivering clean energy solutions through three initial core pillars -- renewable energy, hydrogen and green mobility.

"Commission approves the proposed acquisition of 21 SPVs, owning renewable power generation plants, and the holding companies of certain SPVs by Gentari Renewables India Pte Ltd," the competition watchdog said in a post on X.

The SPVs are engaged in the business of generation and sale of power through wind turbines and solar power plants.

The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices and promotes fair competition in the marketplace.

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