The Competition Commission of India (CCI) approved FedEx India's acquisition of minority stake in Delhivery. It has also approved Delhivery's acquisition of certain operating assets of FedEx India and TNT India.
According to a combination notice filed with the regulator, FedEx India will acquire a minority stake in Delhivery on a fully diluted basis, as well as certain minority investor rights. Some FedEx India customers and employees will also be transferred to Delhivery, subject to their consent. The entities also intend to engage in certain related and ancillary transactions. The proposed merger will have no effect on the competitive landscape in any potential relevant market in India.