CCI approves proposed acquisition of minority shareholding of ~6.63% of Valuedrive Technologies Pvt Ltd by Fidelity Funds

India, Feb. 12 -- The Government of India has issued a release:

The Competition Commission of India (CCI) has approved the proposed acquisition of minority shareholding of ~6.63% of Valuedrive Technologies Private Limited by the Fidelity Funds.

The proposed combination entails the acquisition of minority shareholding of ~6.63% (on a fully diluted basis) through primary subscription and secondary acquisition of compulsory convertible preference shares of Valuedrive Technologies Private Limited/Target by the Fidelity Funds ("Proposed Combination").

The Fidelity Funds are investment funds that are part of the Fidelity Group, which comprises of multiple direct or indirect subsidiaries which act as investment vehicles to buy a diversified por...