CCI Grants Approval for Concentrix Corp's Acquisition of Marnix Lux
The Competition Commission of India (CCI) has granted its approval for the acquisition of Marnix Lux SA by Concentrix
CCI Grants Approval for Concentrix Corp's Acquisition of Marnix Lux
The Competition Commission of India (CCI) has granted its approval for the acquisition of Marnix Lux SA by Concentrix Corporation. Additionally, the CCI has also given the green light for the shareholders of Marnix Lux to acquire approximately 22 per cent shareholding in the merged entity.
Concentrix Corporation, a publicly listed company headquartered in the United States, specializes in delivering customer experience services within the Information Technology and Information Technology-enabled Services sector.
On the other hand, Marnix Lux acts as the parent company of Webhelp S.A.S., a well-known provider of business process outsourcing and specialised services.
With the approval from the CCI, the path is now cleared for the consolidation of these two entities, enabling Concentrix Corporation to acquire Marnix Lux indirectly. Furthermore, as a result of the transaction, the shareholders of Marnix Lux will retain approximately 22 per cent ownership in the combined company.
Although the CCI has given its approval, a comprehensive order outlining the terms, conditions, and considerations of the acquisition is still pending release.