Murugappa's Mavco and Avenue Capital gets CCI nod to acquire MHM Holding

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Murugappa's Mavco and Avenue Capital gets CCI nod to acquire MHM Holding - Business Standard

Quick Summary:

The New York-headquartered Avenue Capital Group through its arm, Avenue India Emergence Pte, while Mavco Investments, a private investment vehicle belonging to select members of the Murugappa family, is acquiring a stake in MHM Holding.

"Pursuant to the share purchase agreement (SPA) executed between MHM Beteiligungsgesellschaft mbH and MHM Vermogensverwaltungs GmbH (the sellers), Avenue and Mavco had agreed to be severally responsible to acquire 100 per cent of the shares in MHM Holding GmbH (target) from the sellers," a notice submitted with the CCI said.

The Competition Commission of India (CCI) has approved Murugappa family affiliate Mavco Investments and Avenue Capital Group's proposal to acquire Germany-based MHM Holding.