CCI Greenlights JSW Ventures' Acquisition of 38% Stake in MG Motor India

The Competition Commission of India (CCI) has given its approval for JSW Ventures Singapore Pte. Limited to acquire approximately 38% of the share capital of MG Motor India Private Limited.

JSW Ventures Singapore Pte. Limited is a newly formed entity and a wholly-owned subsidiary of JSW International Tradecorp Pte. Limited, part of the JSW Group. Meanwhile, MG Motor India Private Limited is an Indian company involved in the automobile original equipment manufacturing business and post-sale services. It is known for manufacturing and selling passenger cars, including electric vehicles, under the brand name 'MG'.

This acquisition marks a strategic move within the automotive sector and represents JSW Ventures Singapore's entry into the industry. CCI's approval paves the way for further developments in this venture