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The acquisition of Panasonic’s battery business by Japan’s GS Yuasa Corp has been approved by the CCI.
Panasonic, in October last year agreed to transfer its lead acid battery business to GS Yuasa.
The Competition Commission of India (CCI) said in a tweet that “…approves acquisition of lead-acid storage battery business of Panasonic Corporation by GS Yuasa International Limited.”
Panasonic according to the agreement will transfer 85.1 percent of PSB shares to GS Yuasa and will own the remaining 14.9 percent for two years in order to support the business transaction.
