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.
