Latest News | Competition Commission Approves Daiwa International's Stake Purchase in Ambit

New Delhi, Jun 13 (PTI) Fair-trade regulator Competition Commission of India (CCI) on Tuesday said it has given approval to Daiwa International Holdings for acquiring a stake in Ambit Pvt Ltd.

Daiwa International Holdings Inc is a Japan-based intermediary management holding company.

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In a tweet on Tuesday, CCI said it has approved the "acquisition of certain shareholding in Ambit Private Limited by Daiwa International Holdings Inc".

Ambit Pvt Ltd is a Sebi-registered merchant banker which provides a range of financial services.

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In May, Daiwa announced that it will acquire a minority stake in Ambit.

Deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices.

(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)