PIB News Update:The Competition Commission of India (CCI) approves the proposed combination relating to Think & Learn Private Limited (BYJU’S) acquisition of certain stake of Aakash Educational Services Limited (AESL) and thereafter merger of BYJU’s and AESL under Section 31(1) of the Competition Act, 2002, today.
The proposed combination will result in merger of AESL into BYJU’S, as a consequence of which, BYJU’S will be the surviving entity. As such, BYJU’S shall effectively acquire complete and sole control over AESL.
BYJU’S is a private limited company incorporated in India. BYJU’S, directly and through its subsidiaries, provides online educational services. It offers a technology-based education platform for primary and secondary school subjects, overseas and domestic test preparatory coaching services for entrance examinations for engineering, medical, etc.
AESL is an unlisted public limited company incorporated in India. AESL (directly, or through its subsidiary Aakash Edutech Private Limited, or through its franchisees) provides curriculum-based coaching for K-12 students and test preparatory services for various competitive examinations such as, engineering examinations, medical examinations, Olympiads, National Talent Search Examination, etc.
Detailed order of the CCI will follow.