The Competition Commission of India (CCI) gave its approval for the acquisition of Marnix Lux SA by Concentrix Corporation, as well as the acquisition of approximately 22% shareholding in the combined company by the shareholders of Marnix Lux.
Concentrix Corporation, a publicly listed company based in the United States, specializes in providing customer experience services within the Information Technology and Information Technology-enabled Services sector.
Marnix Lux, on the other hand, serves as the parent company of Webhelp S.A.S., a renowned provider of business process outsourcing and specialized services.
The approval from the CCI paves the way for the consolidation of these two entities, allowing Concentrix Corporation to acquire Marnix Lux indirectly. Additionally, the shareholders of Marnix Lux will hold approximately 22% stake in the combined company.
While the CCI has granted its approval, a detailed order outlining the conditions and considerations of the acquisition is yet to be released.
Further information regarding the transaction and any additional regulatory requirements will be made available as the process progresses.