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Trilegal secures CCI approval for Hyundai Motor Group’s USD 315 million investment in Ola
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Trilegal secures CCI approval for Hyundai Motor Group’s USD 315 million investment in Ola

Bar & Bench

Trilegal advised Hyundai Motor Company (HMC) and Kia Motors Corporation (KMC), and ANI Technologies Private Limited (ANI) and Ola Electric Mobility Private Limited (OEM), in relation to competition aspects of HMC and KMC’s USD 315 million investment in ANI & OEM.

The CCI’s approval is subject to carrying out of modifications proposed by HMC and KMC, under Regulation 19(2) of the CCI (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011.

Through this investment, the companies will extensively collaborate on developing unique fleet and mobility solutions and building India-specific electric vehicles and infrastructure.

The Trilegal competition team filed a long-form (i.e. Form II) merger notification before the Competition Commission of India (CCI), and the CCI carried out an in-depth examination of the market for (a) manufacture and sale of passenger vehicles; (b) radio taxi services; (c) operational leasing; and (d) charging infrastructure for electric vehicles, in India.

The Trilegal competition team was led by Nisha Kaur Uberoi, Partner & National Head – Competition, assisted by Gautam Chawla, Counsel; and Harshita Parmar, Shiv Johar, Sanjeev Kumar Sriram, Varun Thakur, Radhika Goyal and Gajendra Bhansali, Associates.