CCI clears BYJU’s—Aakash deal
1 min read 08 Jun 2021, 10:55 PM ISTThe proposed combination will result in merger of the two entities, as a consequence of which, BYJU’S will be the surviving entity. BYJU’S shall effectively acquire complete and sole control over Aakash, CCI said
PremiumNEW DELHI : The Competition Commission of India (CCI) said on Tuesday it has cleared the acquisition of Aakash Educational Services Ltd. by online education service provider BYJU’S.
The proposed combination will result in merger of the two entities, as a consequence of which, BYJU’S will be the surviving entity. BYJU’S shall effectively acquire complete and sole control over Aakash, CCI said.
BYJU’S, directly and through its subsidiaries, provides online educational services. It offers a technology-based education platform for primary and secondary school subjects and overseas and domestic coaching services for entrance examinations. Aakash is an unlisted public limited company incorporated in India providing coaching for various competitive examinations.
CCI also cleared a transaction involving renewable energy firm ReNew Power Pvt. Ltd., ReNew Energy Global Ltd., and RMG Acquisition Corporation II, said an official statement.
CCI did not specify any modifications to these transactions. Competition regulators can recommend modifications to transactions if they perceive any appreciable adverse effect on market competition.
