CCI clears Amazon-Witzig bid to acquire Aditya Birla's retail store chain
Updated : January 18, 2019 07:55 PM IST
According to the Competition Commission of India (CCI), the deal involves acquisition of 99.99 percent of the equity share capital of Aditya Birla Retail by Witzig and 49 percent stake buy in Witzig by Amazon's subsidiary Amazon NV Investment Holdings LLC.
This also marks the US-based e-commerce major Amazon's second investment in the Indian brick and mortar format after it had picked up stake in the K Raheja group's retail arm Shopper Stop.
Published : January 18, 2019 07:55 PM IST