NEW DELHI :
Fair trade regulator CCI on Tuesday said it has cleared the proposed acquisition of Altran Technologies SA by Capgemini.
In June 2019, Capgemini and Altran announced that they have entered into an agreement for latter's acquisition through a takeover bid at a price of 14 euros per share, amounting to a total deal amount of 3.6 billion euros.
"The agreement is unanimously recommended and approved by the boards of directors of Capgemini and Altran," Altran had said in a statement dated June 24.
The Competition Commission of India (CCI) in a tweet on Tuesday said it "approves acquisition of sole control over Altran Technologies SA by Capgemini." As per a combination notice filed with CCI "the parties submit that their businesses are complementary in nature. The parties have minimal overlaps in the provision of engineering services in India." Capgemini SE is a European company active in IT services on a worldwide basis while Altran is a publicly-traded joint stock company incorporated under French law and is active globally in engineering services, the notice said.