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JSW Group receives India clearance to acquire stake in Shanghai-headquartered SAIC Motor

( January 23, 2024, 22:01 GMT | Official Statement) -- MLex Summary: JSW Group's proposed share acquisition in Shanghai-headquartered SAIC Motor's India arm received merger clearance from the Indian watchdog on Tuesday. The Competition Commission of India approved JSW Ventures Singapore acquiring approximately 38 percent of MG Motor India along with certain special rights. The acquirer is a wholly owned subsidiary of JSW International Tradecorp and part of the  Sajjan Jindal-owned JSW Group. The target is engaged in the automobile original equipment manufacturing business and after sale services, according to statement released by the CCI on Tuesday. The CCI will release a detailed order.  Statement from the Competition Commission of India follows:...

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