The Competition Commission of India (CCI) has approved Craftsman Automation to acquire 100 per cent of the share capital of Sunbeam Lightweighting Solutions. Craftsman Automation Ltd, a publicly listed company in India, operates across diverse sectors, including powertrain, aluminium products, and industrial engineering.
Sunbeam Lightweighting Solutions, specialising in automotive aluminium die-casting, focuses on producing aluminium components for two-wheelers and passenger vehicles. It is a wholly-owned subsidiary of Mumbai-based private equity firm Kedaara Capital. The Competition Commission of India (CCI) has approved the acquisition, as deals exceeding a certain threshold require CCI's clearance to monitor and prevent unfair business practices.
"The proposed combination envisages acquisition of 100 per cent share capital (on a fully diluted basis) of Sunbeam Lightweighting Solutions Pvt Ltd (Target) by Craftsman Automation Ltd (Acquirer)," added CCI.
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