PIB News Update: The Competition Commission of India (CCI) approves the proposed acquisition of 100% shares and control of Tech Data Corporation by Tiger Midco LLC.The proposed combination relates to the acquisition of Tech Data Corporation (Tech Data) by Tiger Midco LLC (Tiger Midco) by way of merger of Tech Data with a wholly owned subsidiary of Tiger Midco, viz., Merger Sub.
Tiger Midco is a special purpose vehicle set up and managed by investment funds managed by affiliates of Apollo Management, L.P. that manage funds invested in equity and debt issued by entities involved in various businesses throughout the world.
Tech Data, a NASDAQ listed corporation, is active globally in the wholesale distribution of technology products and solutions to resellers. Tech Data is present in India through a subsidiary, Tech Data Advanced Solutions (India) Pvt. Ltd. (“Tech Data India”).
The detailed order of the CCI will follow.