The Competition Commission of India (CCI) has approved Tata Digital’s proposed acquisition of 64.3 per cent stake in Supermarket Grocery Supplies Private Ltd (SGS), which operates the business-to-business arm of the online grocery firm BigBasket.<\/p>\n
The proposed combination involves acquisition by Tata Digital Limited (TDL) of up to 64.3 per cent of the total share capital of SGS (on a fully diluted basis) through a combination of primary and secondary acquisitions, in one or more series of steps.<\/p>\n
Subsequently, through a separate transaction, SGS may acquire sole control over Innovative Retail Concepts Private Limited (IRC).<\/p>\n
The proposed combination will result in the acquisition by TDL of majority stake of and control over SGS.<\/p>\n
Tata Digital Ltd (TDL) is a wholly owned subsidiary of Tata Sons Pvt Ltd, which is the ultimate holding company of the entities belonging to the Tata Sons group.<\/p>\n
At present, TDL is engaged in the business of providing technology services related to identity and access management, loyalty program, offers and payments.<\/p>\n
SGS is incorporated under the laws of India and is engaged in online B2B sales of the relevant products in India through\u00a0business.bigbasket.com<\/a>.<\/p>\n