The Competition Commission of India has approved the acquisition of an additional 40% shareholding by PSA India Pte. Ltd. (Acquirer) in PSA Bharat Investments Pte. Ltd. (Target).

The Proposed Combination involves the acquisition of an additional 40% shareholding by the Acquirer in the Target from AIN Investment Ltd. (Seller). Pursuant to the Proposed Combination, the Acquirer shall be entitled to 100% of the equity shareholding of the Target.

The Acquirer is a Singapore-based investment holding company and a subsidiary of PSA International Pte. Ltd. The Acquirer holds investments in companies that are active in the Maritime Supply Chain in India.

The Target is a Singapore-based investment holding company. The Target holds investments in India-domiciled subsidiaries that provide Container Terminal Services in India.

Detailed order of the Commission will follow.

Change of control via additional share acquisition enables full ownership in maritime terminal services, subject to regulatory order. The Competition Commission of India approved a combination whereby PSA India Pte. Ltd. will acquire additional shareholding in PSA Bharat Investments Pte. Ltd. from AIN Investment Ltd., resulting in the Acquirer obtaining full equity ownership of the Target. The Acquirer holds investments in the maritime supply chain in India, while the Target holds investments in India-domiciled subsidiaries providing container terminal services. A detailed order of the Commission will follow.