CCI Greenlights Amazon Asia-Pacific's Major Stake Acquisition in Frontizo

The Competition Commission of India (CCI) has approved Amazon Asia-Pacific Holdings' acquisition of a 76% stake in Frontizo from Zodiac Wealth Advisors LLP. Additionally, the CCI cleared multiple acquisitions involving Appario Retail, Clicktech Retail, and Shriram LI and GI Holdings by Sanlam Emerging Markets. These transactions aim to enhance business operations and promote fair competition.

The Competition Commission of India (CCI) has greenlit Amazon Asia-Pacific Holdings' proposal to acquire a 76% stake in Frontizo from Zodiac Wealth Advisors LLP. Frontizo's subsidiary, Appario Retail, operates retail and wholesale sales on the Amazon India Marketplace.

Appario, a joint venture of Amazon and the Patni group-owned Zodiac Wealth Management, will see Amazon's stake increase significantly. Zodiac previously held 76%, while Amazon held 23%, and Zaffre LLC held 1% in Appario Retail.

The CCI has also approved the acquisition of Appario's business by Clicktech Retail Pvt Ltd and the purchase of a 1% share by Haverl in New Trends Commerce Pvt Ltd, another entity involved in Amazon India sales. Additionally, CCI cleared Sanlam Emerging Markets' (Mauritius) acquisition of stakes in Shriram LI Holdings and Shriram GI Holdings, further consolidating business interests while maintaining fair market competition.

(With inputs from agencies.)