CCI Clears Delhivery’s ₹14.07 Billion Acquisition Of Ecom Express

The Competition Commission of India has approved Delhivery Ltd.'s proposed acquisition of at least 99.44% stake in Gurugram-based Ecom Express Ltd., according to a press release on the regulator’s website Tuesday.

Delhivery’s board had in April cleared the ₹14.07 billion all-cash acquisition, which is expected to close within six months from the execution of the share purchase agreement. The board had approved the purchase of at least 99.4% of Ecom Express’s issued and paid-up share capital on a fully diluted basis