CCI greenlights Craftsman Automation’s acquisition of Sunbeam Lightweighting
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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