The Competition Commission of India has approved the proposed combination involving acquisition of SML Isuzu Limited by Mahindra and Mahindra Limited.

The proposed combination relates to acquisition of SML Isuzu Limited (Target) by Mahindra and Mahindra Limited (Acquirer).

The Acquirer is the flagship company of the Mahindra group, which is a leading Indian federation of companies with diversified interests across various sectors of economic significance including automotive, farm equipment, agricultural products and services, smaller range power generation equipment, financial services, information technology, logistics, alternative energy, aerospace, steel processing, trading, insurance broking, real estate and infrastructure, and hospitality.

The Target is engaged in the business of manufacture and sale of commercial vehicles (“CVs”).                                              

Detailed order of the Commission will follow.

Combination approval enables acquisition of a commercial-vehicle manufacturer by a diversified conglomerate, detailed order to follow. The Competition Commission approved the proposed combination in which Mahindra and Mahindra Limited will acquire SML Isuzu Limited, a manufacturer and seller of commercial vehicles; the Acquirer is a flagship diversified conglomerate and the Commission's detailed order and any conditions will follow.