JSW will have 38% stake in MG Motors India: Burman family also approved by CCI to buy stake in Religare Enterprises

The Competition Commission of India (CCI) on Tuesday approved JSW Ventures Singapore’s acquisition of about 38% share capital in MG Motors India. Along with this, CCI has also given approval to the Burman family running Dabur India to buy 5.27% stake in Religare Enterprises.

In the case of acquisition of JSW Ventures, CCI said that the buyer in this deal is a new entity, which is not involved in any activity till date. It is completely owned by JSW International Tradecorp.

At the same time, the company in which JSW is buying stake has automobile original equipment manufacturing (OEM) business in India.

4 institutions will together buy 5.27% stake in Religare Enterprises

Four institutions – Puran Associates, MB Finmart, VIC Enterprises and Milky Investment and Trading will jointly buy 5.27% stake in Religare Enterprises. The Burman family controls these four institutions.

The Burman family, through these four companies, is the largest shareholder in Religare Enterprises and holds 21% stake.