The Competition Commission of India (CCI) has granted automatic approval to the Avenue-Mavco acquisition of MHM Holding GmbH under its Green Channel route. This fast-track approval mechanism signifies that the transaction poses no significant competition concerns or overlaps in the Indian market, streamlining the regulatory process for mergers and acquisitions.

As part of the agreement, Avenue India Emergence Pte. Ltd. (Avenue) and Mavco Investments Private Ltd (Mavco) will jointly acquire 100 per cent ownership of MHM Holding, the parent company of Hubergroup, a global leader in printing inks and chemicals. The acquisition involves the establishment of a joint venture in India, which will take over the transaction rights and manage the business locally.

Avenue, part of the Avenue Capital Group, specialises in specialty lending and investments, operating across major global markets including the US, Europe, and Asia. Mavco, a relatively new entity, is privately held by individuals and trusts. The target company, MHM Holding, operates through its renowned subsidiary Hubergroup, providing innovative and sustainable printing and chemical solutions globally, with a notable presence in India, Europe, and other growth markets.

The transaction aligns with the CCI’s goal of fostering an environment conducive to seamless and compliant business combinations. By leveraging the Green Channel route, the CCI ensures faster clearance for deals with no adverse market impact, reinforcing India’s reputation as a competitive and business-friendly market.

This approval underscores the increasing global interest in India’s dynamic economy and its robust regulatory framework for mergers and acquisitions. The deal is set to strengthen the printing ink and chemicals ecosystem in India, creating new opportunities for growth and innovation, economy watchers said.