Current context: The Competition Commission of India (CCI) has approved the acquisition of 100% shareholding of WABCO Holdings Inc. (WABCO) by ZF Friedrichshafen AG (ZF) on 17th Feb 2020.
a. TATA MOTORS
b. ZF Friedrichshafen AG
c. Subaru
d. Tesla
- The acquisition is approved under Section 31(1) of the Competition Act, 2002.
- ZF is a global technology company and develops, manufactures and distributes products and systems for i) passenger vehicles ii) commercial vehicles iii) off-highway vehicles iv) industrial technology.
- WABCO is a global supplier of primarily pneumatic braking control systems, technologies and services.
- It provides services that improve safety, efficiency and connectivity of commercial vehicles including trucks, buses and trailers.
- ZF will acquire 100% shares in WABCO via its indirect wholly-owned subsidiary Verona Merger Sub Corp.
- Under the merger agreement, ZF will acquire all outstanding shares of WABCO for USD 136.50 per share in an all-cash transaction for an equity value of over USD 7 billion.
- Competition Commission of India is a statutory body established on 14th October 2003, is responsible for enforcing The Competition Act, 2002 throughout India.
- Headquarters: New Delhi
- Chairperson: Ashok Kumar Gupta
Question:
Q.1 The Competition Commission of India (CCI) has recently approved the acquisition of 100% shareholding of WABCO Holdings Inc. (WABCO) by __________?a. TATA MOTORS
b. ZF Friedrichshafen AG
c. Subaru
d. Tesla
