New Delhi, Aug 13 (SocialNews.XYZ) The Competition Commission of India (CCI) has approved the proposed acquisition of 9.3 per cent stake in e-grocer Grofers by online food delivery major Zomato.
The acquisition involves an investment of $100 million by Zomato in the online grocer.
Taking to Twitter, the anti-trust body said: "Commission approves proposed acquisition by Zomato of approximately 9.3 per cent stake in Grofers India and Hands on Trades."
'Hands on Trades' is the wholesale entity of Grofers.
With the investment in Grofers, Zomato would re-enter into the online grocery space and will compete with the likes of Amazon, Flipkart, and Swiggy, Tatas-owned BigBasket and Reliance Industries' JioMart, which are already present in the segment.
Source: IANS
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