The Competition Commission of India (CCI) has approved acquisition of Prione Business Service by Amazon Asia-Pacific Resources.
Amazon Asia-Pacific Resources Private Limited (Acquirer) has proposed to acquire a 76 per cent of the equity shares in Prione Business Services Private Limited (Target).
Acquirer, an indirect wholly owned subsidiary of Amazon.com, Inc. (ACI), does not undertake any business activity in India. However, ACI has certain indirect subsidiaries either registered in India or having business operations in India.
Target, which is an Indian owned and controlled company, is controlled by Hober Mallow Trust (Hober Mallow). And, 76 percent of the share capital of the Target is held by Hober Mallow.
Target has a wholly owned subsidiary Cloudtail India Private Limited (CT), which is the largest seller on Amazon.