CCI Consents To Temasek’s Acquisition Of stake In Speed JVco
The Competition Commission of India (CCI) has cleared the proposal of Ramon Investments Pte to acquire a stake in Speed JVco.
Ramon is an arm of Singapore-headquartered Temasek Holdings, an investment company. As of March 2024, the sovereign wealth fund owns a Singapore Dollar (SGD) 389 billion portfolio of assets.
The CCI said in a release, “The proposed combination involves the acquisition of a certain stake of the target (Speed JVco) by the acquirer (Ramon Investments). The Commission approves the acquisition.”
Speed JVco and its affiliates offer visa outsourcing, travel-related and consular services to governments and diplomatic missions. It also facilitates travel insurance, itineraries, hotel reservations and ancillary services, including sim cards and forex facilities.