Latest News | CCI Clears Mirae Group's Minority Stake Buy in Shadowfax Technologies

New Delhi, Nov 14 (PTI) Fair trade regulator Competition Commission of India (CCI) on Tuesday cleared Mirae Group entities' acquisition of a minority stake in Shadowfax Technogies.

The Mirae Group entities undertake venture investments and are ultimately directly or indirectly controlled by the global investment manager Mirae Group.

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"The commission approves the proposed acquisition of minority stake in Shadowfax Technologies Private Limited by the Mirae Group Entities," according to a post by CCI on social media platform X on Tuesday.

Shadowfax Technologies provides logistics services, and third party (3P) logistics services in the country.

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

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)