The Competition Commission of India (CCI) has given its nod for 113-year-old Mars’ $36 billion acquisition of Pringles maker Kellanova.

In another transaction, the CCI has green-lighted the acquisition of a 72.8 per cent stake in snack maker Pratap Snacks by Authum Investment & Infrastructure and investor Mahi Madhusudan Kela.

“CCI approves the acquisition of all outstanding equity shares of Kellanova by Mars, Incorporated#CCI #Mergers”, CCI said in a social media post on platform “X” on Tuesday evening. 

“CCI approves the proposed combination involving the acquisition of 72.8% voting share capital in Prataap Snacks Limited by Authum Investment & Infrastructure Limited and Ms. Mahi Madhusudan Kela”, said another post from CCI on the social platform “X”.

Authum Investment & Infrastructure and investor Mahi Madhusudan Kela acquired a  46.85 per cent stake in Indore-based Pratap Snacks, a listed company, from venture capital firm Peak XV Partners in September and announced an open offer for an additional 26 per cent stake in the snack maker. 

The 46.85 per cent controlling stake was acquired for ₹846.60 crore. 

Meanwhile, in another transaction, the CCI has approved the acquisition of certain shareholdings of Fourth Partner Energy Pvt. Ltd. jointly by International Finance Corporation, Asian Development Bank, and DEG—Deutsche Investitions—und Entwicklungsgesellschaft mbH.