Competition Commission approves BigBasket's 64% stake sale to Tata Digital
05 November 2024
India’s competition watchdog has approved Tata Sons’ proposal to acquire majority stake in grocery e-tailer BigBasket, setting the stage for a fierce battle of giants in the fast-growing online grocery segment.
Tata Digital, a wholly-owned subsidiary of Tata Sons, had sought the Competition Commission of India’s approval to acquire 64.3% stake in Supermarket Grocery Supplies, the business-to-business arm of BigBasket, through a mix of primary and secondary share purchases.
Subsequently, through a separate transaction, Supermarket Grocery Supplies may acquire sole control over Innovative Retail Concepts, which operates BigBasket’s online retail business, giving Tatas control over both the wholesale as well as retail business units.
India’s competition watchdog has approved Tata Sons’ proposal to acquire majority stake in grocery e-tailer BigBasket, setting the stage for a fierce battle of giants in the fast-growing online grocery segment. Tata Digital, a wholly-owned subsidiary of Tata Sons, had sought the Competition Commission of India’s approval to acquire 64.3% stake in Supermarket Grocery Supplies, the business-to-business arm of BigBasket, through a mix of primary and secondary share purchases. Subsequently, through a separate transaction, Supermarket Grocery Supplies may acquire sole control over Innovative Retail Concepts, which operates BigBasket’s online retail business, giving Tatas control over both the wholesale as well as retail business units.
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