Startup

Tata-BigBasket Deal – Tata plans to buy more than 60 percent stake in big basket

Tata-BigBasket Deal

Tata-BigBasket Deal: Tata Digital will acquire a majority stake in SGS and gain control with the proposed deal. Transactions above a certain limit require approval from the Competition Commission of India.

Highlights

  • Tata Digital will deal
  • Tata Digital is a wholly-owned subsidiary of Tata Sons Private Limited.
  • Transactions above a certain limit require approval from the Competition Commission of India.

Tata-BigBasket Deal: The Tata Group has proposed to buy more than 60 per cent stake in online grocery store BigBasket. As per the information given to the Competition Commission of India (CCI), through the primary and secondary acquisitions of the Group, Supermarket Grocery Supplies Pvt. (SGS) plans to buy a 64.3 per cent stake.

Under the proposed deal, Tata Digital Limited (TDL), a wholly-owned subsidiary of Tata Sons, will acquire 64.3 per cent of the share capital of SGS. According to the information, TDL will acquire a majority stake in SGS and gain control through the proposed deal. In a separate transaction, the SGS can gain single control over the IRC.

Tata Digital is a wholly-owned subsidiary of Tata Sons Private Limited. Tata provides technology services related to digital identity and access management, loyalty programs, offers and payments. Transactions above a certain limit require approval from the Competition Commission of India.

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Karmendra Kumar
Karmendra Kumar, a professional Blogger, Youtuber, Digital Marketer & Entrepreneur.

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