Competition Commission of India (CCI) approves the acquisition by Alpha Wave Ventures II, LP of a 12.44% shareholding in Advanta Enterprises Limited

The Competition Commission of India has approved the acquisition by Alpha Wave Ventures II, LP of a 12.44% shareholding in Advanta Enterprises Limited.

The Proposed Combination envisages the acquisition by Alpha Wave Ventures II, LP (AWV II) of a 12.44% shareholding in Advanta Enterprises Limited (Advanta).

AWV II is the flagship global private equity fund managed by Alpha Wave Ventures GP, a joint venture between Alpha Wave Global, LP and Lunate Holding RSC Ltd. AWV II aims to invest in best-in-class growth-stage companies and endeavours to be helpful long-term partners.

Advanta is engaged in the business of breeding, producing, researching, developing, introducing, and commercializing, sale, purchase, export and import of seeds and seed varieties.

Detailed order of the Commission will follow.