IndoEdge Fund to acquire 8 pc in MG Motor

The CCI on Tuesday said it has cleared IndoEdge’s proposed acquisition of an 8 per cent stake in MG Motor India.

MG Motor India is engaged in the automobile original equipment manufacturing business and after-sales services under the brand MG.

The proposed combination relates to the acquisition of up to approximately 8 per cent of the share capital of MG Motor India Pvt Ltd, along with certain rights by the IndoEdge India Fund – LVF Scheme, according to a release. IndoEdge India Fund – LVF Scheme is a large value fund for accredited investors, a scheme by IndoEdge India Fund. It is a Sebi-registered Alternative Investment Fund (AIF).