India, April 8 -- The Competition Commission of India (CCI) has approved a two-part transaction involving Citrus Investment LLC, including a marginal stake increase in Hitachi Construction Machinery Co Ltd and acquisition of sole control over its joint venture.
The approved combination entails Citrus acquiring an additional 0.4% stake in Hitachi Construction Machinery through market purchases on the Tokyo Stock Exchange. It also involves Citrus gaining sole control of HCJI Holdings K K, a 50:50 joint venture, through a share buyback of the other partner's stake.
Citrus Investment operates as an investment holding entity and does not have operational business activities in India or globally.
Hitachi Construction Machinery is a publicly li...