In January 2019, the Competition of India (CCI) approved a deal wherein Samara Capital-backed Witzig Advisory Services and Amazon will acquire _______, which operates a supermarket store chain called 'More'.
Aditya Birla Retail Ltd
Understanding the CCI Approved Acquisition Deal
The question asks about a significant deal approved by the Competition Commission of India (CCI) in January 2019. This deal involved two entities, Samara Capital-backed Witzig Advisory Services and Amazon, acquiring a specific company known for operating a supermarket store chain called 'More'. Understanding the parties involved and the nature of the acquisition is key to answering this question.
Details of the Acquisition Deal
In January 2019, the Competition Commission of India (CCI), the regulatory body responsible for preventing practices having an adverse effect on competition in India, reviewed and approved a joint acquisition. The acquiring entities were:
- Samara Capital-backed Witzig Advisory Services
- Amazon
These entities sought to acquire a controlling stake in a company that operates the popular supermarket chain known as 'More'. The focus is on identifying the company that owned and operated this 'More' chain at the time of the deal.
Identifying the Acquired Company: 'More' Supermarket Chain
The supermarket chain 'More' was operated by a specific retail company. Based on market information and regulatory filings from around January 2019, the company that operated the 'More' chain and was the subject of the acquisition by the Samara Capital-Amazon consortium was Aditya Birla Retail Ltd.
Therefore, the deal approved by the CCI involved Samara Capital-backed Witzig Advisory Services and Amazon acquiring Aditya Birla Retail Ltd.
Role of the Competition Commission of India (CCI)
The CCI plays a crucial role in the Indian economy by reviewing mergers, acquisitions, and amalgamations to ensure they do not cause an appreciable adverse effect on competition within India. Any significant transaction that crosses certain thresholds requires approval from the CCI before it can be completed. The approval in January 2019 signifies that the CCI examined the potential impact of the Samara Capital-Amazon acquisition of Aditya Birla Retail Ltd on the retail market and found it to be in compliance with the competition act.
Summary of the Deal
- Acquiring Parties: Samara Capital-backed Witzig Advisory Services and Amazon
- Acquired Company: Aditya Birla Retail Ltd
- Business Operated by Acquired Company: 'More' supermarket store chain
- Approving Authority: Competition Commission of India (CCI)
- Approval Date: January 2019
Conclusion on the CCI Approved Deal
The acquisition deal approved by the Competition Commission of India in January 2019 involved Samara Capital-backed Witzig Advisory Services and Amazon jointly acquiring Aditya Birla Retail Ltd, the operator of the 'More' supermarket chain.
Revision Table: Key Concepts
| Concept | Description |
| Competition Commission of India (CCI) | Regulatory body in India enforcing The Competition Act, 2002. Approves combinations (mergers, acquisitions) to prevent anti-competitive effects. |
| Acquisition | When one company purchases most or all of another company's shares to gain control. |
| Samara Capital | An Indian private equity firm. |
| Amazon | Major global e-commerce and technology company. |
| Aditya Birla Retail Ltd (ABRL) | Part of the Aditya Birla Group, formerly operated the 'More' retail chain. |
Additional Information: Mergers & Acquisitions in India
Mergers and acquisitions (M&A) are common strategies for business growth, market expansion, or diversification. In India, significant M&A transactions are subject to review by the Competition Commission of India under the provisions of The Competition Act, 2002. The CCI assesses whether such combinations are likely to cause an appreciable adverse effect on competition in the relevant market in India. This process ensures fair competition and protects consumer interests. Deals in sectors like retail, technology, and telecommunications are frequently scrutinised due to their significant market impact.
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