CCI Approves Mirae Asset's Acquisition of Sharekhan & Human Value Developers

New Delhi, Apr 2 (PTI) The Competition Commission of India (CCI) on Tuesday said it has approved the proposed acquisition of Sharekhan Ltd. and Human Value Developers Pvt. Ltd. by Mirae Asset Capital Markets (India) and Mirae Asset Securities.

Sharekhan Ltd. is engaged in the business of stock broking, commodities/currency derivatives broking.

"CCI has approved acquisition of 100 per cent equity stake of Sharekhan Ltd. and Human Value Developers Pvt. Ltd. by Mirae Asset Capital Markets (India) Pvt. Ltd. and Mirae Asset Securities Co. Ltd., respectively," a release said.

Mirae Asset Securities (MAS) is a public limited company, while Mirae Asset Capital Markets (India) is a wholly owned subsidiary of MAS.

Human Value Developers Pvt. Ltd. (HVDPL) is an investment holding company that holds a certain stake in Sharekhan and does not undertake any other business activity.

In another release, the CCI said it has approved Piramal Alternatives Trust for the proposed acquisition of 10.39 per cent stake in Annapurna Finance.

Piramal Alternatives Trust is a trust belonging to Piramal Enterprises Ltd.

"The Competition Commission of India has approved the acquisition of 10.39 per cent shareholding of Annapurna Finance Pvt. Ltd. and subscription to its certain debentures by Piramal Alternatives Trust," the release said.

Annapurna Finance is an RBI-registered non-deposit-taking non-banking financial company.

Separately, the CCI has also approved the proposed acquisition of NFCL Assets and 100 per cent stake of ZeroC by AMG India using proceeds of investments received from AMG Entities, BSI, Gentari, and Platinum Rock.

Nagarjuna Fertilizers and Chemicals Ltd. (NFCL) is a publicly listed company specialising in urea manufacturing and micro-irrigation products, while Greenko ZeroC Pvt. Ltd. (ZeroC) is not engaged in any revenue generating business activities in India at present.

Gentari International Renewables Pte Ltd. is controlled by the PETRONAS Group and Baker Street Investment Pte Ltd. (BSI) is part of a group of investment holding companies managed by GIC Special Investments Pvt. Ltd.

Platinum Rock B 2014 RSC Ltd. (acting in its capacity as the trustee of the Platinum Stone A 2014 Trust) (Platinum Rock) has made several investments across the world (including in India) in various sectors including infrastructure, such as transportation, utilities, energy and fund investments in the infrastructure sector. It does not, however, carry out any other business activities, whether in India or globally.

AM Green BV, AM Green Ammonia Holdings BV, AM Green Ammonia BV and AM Green Ammonia (India) are collectively referred to as "AMG Entities".