CCI Greenlights Bharti and Indigo Cove's $2 Billion Stake in Haier India

The Competition Commission of India (CCI) has given the green light to Bharti Group and Indigo Cove Investments for their proposed acquisition of a 49% stake in Haier India. The deal, estimated at around USD 2 billion, has received approval via the green channel route.

This transaction encompasses the acquisition of nearly 49% equity shareholding in Haier India by Indigo Cove and Bharti Neo Ventures Ltd (BNVL) through a combination of primary subscription and secondary share purchase. Haier India specializes in the manufacturing of household appliances like refrigerators and air-conditioners.

Indigo Cove Investments BV, incorporated in the Netherlands, is an investment holding company, while BNVL is a wholly-owned Bharti group subsidiary with no direct business operations. The CCI's green channel approval indicates the transaction poses no competitive threat in India's market.