Competition Comm approves Imola-Ingram Micro deal.

Competition Commission of India (CCI) recently said it has cleared the Imola Acquisition Corp''s proposed purchase of IT company Ingram Micro.

Under the deal, Platinum Equity Group -- through Imola, a wholly-owned affiliate of certain entities that are ultimately controlled by the group -- would acquire sole control of Ingram Micro by way of a merger of subsidiaries, as per a notice filed with the watchdog.

In a tweet, the regulator said it has approved the "acquisition of 100% shareholding in Ingram Micro Inc. by Imola Acquisition Corporation".

According to the notice, Ingram Micro is active in the wholesale distribution of electronic products in India and has a minor vertical supply relationship with one of Platinum Equity Group''s former portfolio companies in India.

Platinum Equity Group specialises in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of businesses, including information technology and telecommunications.

US-headquartered Ingram Micro is engaged in the wholesale distribution of IT products, consumer electronics, mobility products, and related services in India, as per the notice.

Deal beyond a certain threshold requires the nod of CCI. 

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