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.
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.
"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.
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