Mirae Group Receives Nod From CCI To Acquire Stake In Shadowfax

The Competition Commission of India (CCI) has granted approval to Mirae Group's proposal to acquire a minority stake in logistics firm Shadowfax.

Mirae Group, using its 'Late Stage Opportunities Fund,' will secure the stake and earn the right to appoint a representative to Shadowfax's board. 

This approval closely follows indications of Shadowfax finalizing a USD 60 million funding round led by TPG NewQuest. 

Established in 2015, Shadowfax serves as a third-party logistics platform catering to hyperlocal and delivery businesses, including Meesho, Blinkit, Decathlon, Flipkart, and BigBasket. 

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