CCI Approves Bharat Forge-AAM Deal with Modifications

New Delhi, Apr 22 (PTI) The Competition Commission of India (CCI) on Tuesday approved Bharat Forge Ltd's acquisition of AAM India Manufacturing Corporation Pvt Ltd after accepting certain voluntary modifications proposed by the companies.

Details about the modifications could not be immediately ascertained.

Last month, CCI had sought public comments on the proposed deal after prima facie concluding that the transaction could adversely impact competition.

In a release on Tuesday, the regulator said it has cleared the combination "subject to compliance of voluntarily modifications offered by the parties".

Bharat Forge is a leading provider of forged components and solutions to various sectors while AAM India Manufacturing Corporation is into manufacturing and sale of axles for commercial vehicles in the country.

Deals beyond a certain threshold are required to get approval from the CCI, which keeps a tab on unfair business practices across sectors.