Anti-trust watchdog Competition Commission of India (CCI) on Thursday cleared Ontario Teachers’ Pension Plan board’s acquisition of stake in BusyBees Logistics Solutions.
The transaction consists of the acquisition of minority shareholding by 1000632564 Ontario Ltd in BusyBees Logistics Solutions Pvt Ltd.
The acquirer is solely controlled by the board of Ontario Teachers’ Pension Plan (OTPP), a global investor.
The CCI said it has given its nod to the deal under the green channel route.
Under the green channel route, a transaction that does not raise any risk of an appreciable adverse effect on competition is deemed to be approved on being intimated to the CCI.
“Given that there are no horizontal overlaps, vertical relationships, or complementary businesses between the acquirer and BusyBees Logistics Solutions in the country, the transaction will not cause an appreciable adverse effect on competition, and is being notified under the green channel route,” the CCI said.
BusyBees is an express logistics service provider, catering to end-to-end supply chain solutions. It provides B2B Xpress, B2C Xpress, cross-border and 3PL (Third Party Logistics) services.