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India: Panasonic gets green light for battery partnership

 |  November 18, 2014

Japan-based Panasonic has received antitrust clearance from Indian regulators for its proposed joint venture with Minda Industries, say reports.

The companies are looking to partner up for the manufacturing and sale of lead acid storage batteries used in the automotive and industrial markets, according to reports. The partnership would see Panasonic holding a 60 percent take in the joint venture.

The Competition Commission of India has approved of their plans, say reports, after finding the companies do not have any vertical overlap in the LAS battery industry. Further, say reports, the CCI found sufficient competition in the market.

Panasonic will now move forward with the first steps of the partnership, which would see the company acquire Minda Batteries.

Full content: Economic Times of India

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