<p class="title">The Competition Commission of India on Tuesday said it has approved the minority stake purchase deal of Toyota Motor Corporation and Suzuki Motor Corporation.</p>.<p class="bodytext">The transaction involves the acquisition of a "minority and insignificant shareholding" of 4.94 per cent by Toyota Motor in Suzuki Motor while Suzuki will hold approximately 0.24 per cent stake in the former, a statement said.</p>.<p class="bodytext">The fair trade regulator also said that the purpose of the proposed transaction is to "establish and promote a long-term partnership" between the two firms for future collaborations in new fields, including the autonomous driving filed.</p>.<p class="bodytext">"Although both the parties are active in the broad automobile sector in India, their overlapping business activities arise only in the relevant markets of compact passenger cars and mid-size passenger cars" the statement added.</p>
<p class="title">The Competition Commission of India on Tuesday said it has approved the minority stake purchase deal of Toyota Motor Corporation and Suzuki Motor Corporation.</p>.<p class="bodytext">The transaction involves the acquisition of a "minority and insignificant shareholding" of 4.94 per cent by Toyota Motor in Suzuki Motor while Suzuki will hold approximately 0.24 per cent stake in the former, a statement said.</p>.<p class="bodytext">The fair trade regulator also said that the purpose of the proposed transaction is to "establish and promote a long-term partnership" between the two firms for future collaborations in new fields, including the autonomous driving filed.</p>.<p class="bodytext">"Although both the parties are active in the broad automobile sector in India, their overlapping business activities arise only in the relevant markets of compact passenger cars and mid-size passenger cars" the statement added.</p>