The Competition Commission of India (CCI) approves acquisition of stake in Ecom by PG Esmeralda.

The proposed combination envisages acquisition of stake in Ecom Express Private Limited (Ecom) by PG Esmeralda Pte. Limited (PG Esmeralda).

PG Esmeralda is controlled by investment entities that are ultimately controlled by Partners Group AG or its affiliates (Partners Group). Partners Group is said to be a global private market investment manager, headquartered in Switzerland. It invests in a variety of companies in sectors such as IT and IT enabled services, healthcare, real estate, consumer products, banking and non-banking financial services.

Ecom is a company incorporated in India. It carries on the business of providing third party logistics (3PL) services in India.

Detailed order of the CCI will follow.

Merger control: CCI approval of stake acquisition in Ecom by PG Esmeralda, pending detailed order. CCI approved the proposed acquisition of a stake in Ecom Express Private Limited by PG Esmeralda Pte. Limited, where PG Esmeralda is ultimately controlled by investment vehicles affiliated with Partners Group AG; Ecom operates as a third party logistics services provider in India, and a detailed CCI order will follow.