CCI receives a notice relating to acquisition of certain shareholding in OFB Tech Private Limited by SVF II Orca (DE) LLC under Green Channel
30 JUL 2021
The Competition Commission of India (CCI) receives a notice relating to the acquisition of certain shareholding in OFB Tech Private Limited by SVF II Orca (DE) LLC, under Green Channel and is deemed approved.
The CCI received a notice relating to the acquisition of certain shareholding in OFB Tech Private Limited (Target) by SVF II Orca (DE) LLC (Acquirer), under Green Channel and is deemed approved.
SVF II Orca (DE) LLC is a newly incorporated entity set up to make mid to long term financial investments in technology companies. It belongs to the SoftBank Group which is present in India through controlled entities and investments in various sectors, including but not limited to health technology, logistics, education technology, and artificial intelligence.
OFB Tech Private Limited is incorporated in India. It is involved in the wholesale trading of raw materials through a technology enabled platform. OFB Tech has indirect presence in (i) purchase financing business, (ii) wholesale trading of agricultural materials, (iii) wholesale trading of construction materials and related sub-contracting services, and (iv) operation of a technology platform that assists enterprises in discovering tenders.