CCI Approves Majesty II Pte Ltd's Acquisition Of Al Lenarco Midco And Manjushree Technopack’s Transactions
CCI Approves Majesty II Pte Ltd's Acquisition Of Al Lenarco Midco And Manjushree Technopack’s Transactions
It will result in indirect gain of the majority equity shareholding
The Competition Commission of India (CCI) has given the nod to the proposed acquisition of AI Lenarco Midco by Majesty II Pte Ltd and certain compulsory convertible debentures in Manjushree Technopack from AI Lenarco by Ashoka India Equity Investment Trust plc, Nuvama Private Investment Trust and InCred Growth Partners Fund - I.
The competition watchdog said, "The proposed combination involves the acquisition by Majesty II Pte. Ltd of the entire equity shareholding in AI Lenarco Midco, which will result in indirect acquisition of the majority equity shareholding in Manjushree Technopack.”
Manjushree is in the business of manufacturing and sale of rigid plastic packaging products in India.
Majesty II is a special purpose vehicle, and an investment holding company of the PAG Group, a leading alternative investment firm focused on the Asia-Pacific region.
Ashoka India is a closed-ended investment company incorporated in England & Wales.
Nuvama Investment is a Securities and Exchange Board of India (SEBI)-registered Alternative Investment Fund (AIF).
InCred Growth is a SEBI-registered AIF, investing in high-quality private businesses across consumer, banking and financial services. AI Lenarco is a Cyprus-based investment holding company of the Advent International Group.
