The Competition Commission of India has approved the acquisition of certain equity stake in Logisteed Holdings, Ltd. (Target) by Japan Post Co., Ltd. (Acquirer).

The Proposed Combination involves the acquisition of a 19.9% equity stake with 14.9% voting rights in the Target by the Acquirer from HTSK Investment L.P.

The Acquirer is a Japanese company, and is globally engaged in postal operations, sales of documentary stamps, logistics business, real estate business, international cargo transport, bank and insurance agency services, etc.

The Target is a special-purpose investment holding company incorporated in Japan. The Target, through its affiliates, is globally engaged in the business of, inter alia, third-party logistics/contract logistics, heavy machinery transportation, and freight forwarding.

Detailed order of the Commission will follow.

Japan Post to acquire 19.9% stake (14.9% voting rights) in Logisteed Holdings from HTSK Investment L.P.; involves logistics business. The Competition Commission approved Japan Post Co., Ltd.'s acquisition of a 19.9% equity stake with 14.9% voting rights in Logisteed Holdings, Ltd. from HTSK Investment L.P.; the Acquirer is a diversified postal and logistics group and the Target is an investment holding company with affiliates engaged in third-party logistics, heavy machinery transport and freight forwarding, with a detailed order to follow.