CCI Approves Alat Technologies' Acquisition of TKE Group Shares
ECONOMY & POLICY

CCI Approves Alat Technologies' Acquisition of TKE Group Shares

The Competition Commission of India has approved Alat Technologies' acquisition of shares in TKE Group and the formation of a joint venture between Alat Technologies and TKE Group.

The proposed deal involves (a) Alat Technologies Company (ATC) indirectly acquiring a 15 per cent stake in TKE Group through its investment in Vertical Topco S.à r.l. (Proposed Topco Investment) and (b) the establishment of a joint venture (KSA JV) between ATC and TKE Group (Proposed KSA JV Transaction).

ATC, a wholly owned subsidiary of Saudi Arabia’s Public Investment Fund (PIF), operates globally and focuses on manufacturing in sectors like semiconductors, smart devices, smart buildings, AI infrastructure, and next-generation industrial technologies.

Vertical Topco, based in Luxembourg, is the holding company of TKE Group, which provides elevator, escalator, and related services in over 60 countries. The proposed KSA JV will focus on manufacturing, supplying, installing, and maintaining vertical and horizontal transportation systems primarily in Saudi Arabia, with potential expansion across the MENA region.

The Commission’s detailed order will follow.

The Competition Commission of India has approved Alat Technologies' acquisition of shares in TKE Group and the formation of a joint venture between Alat Technologies and TKE Group. The proposed deal involves (a) Alat Technologies Company (ATC) indirectly acquiring a 15 per cent stake in TKE Group through its investment in Vertical Topco S.à r.l. (Proposed Topco Investment) and (b) the establishment of a joint venture (KSA JV) between ATC and TKE Group (Proposed KSA JV Transaction). ATC, a wholly owned subsidiary of Saudi Arabia’s Public Investment Fund (PIF), operates globally and focuses on manufacturing in sectors like semiconductors, smart devices, smart buildings, AI infrastructure, and next-generation industrial technologies. Vertical Topco, based in Luxembourg, is the holding company of TKE Group, which provides elevator, escalator, and related services in over 60 countries. The proposed KSA JV will focus on manufacturing, supplying, installing, and maintaining vertical and horizontal transportation systems primarily in Saudi Arabia, with potential expansion across the MENA region. The Commission’s detailed order will follow.

Next Story
Resources

Madhya Pradesh Champions Inclusive Tourism at Heritage Sites

On the occasion of World Heritage Day, Madhya Pradesh is taking a significant step toward inclusive tourism by making its historical sites accessible to all — especially persons with disabilities. The state is rolling out its ‘Accessibility Infrastructure and Development’ project at Maheshwar, Mandu, Dhar, and Orchha, aiming to create a more welcoming experience at these iconic cultural destinations.The initiative, under the leadership of Chief Minister Dr Mohan Yadav and Tourism Minister Shri Dharmendra Bhav Singh Lodhi, includes infrastructure upgrades such as ramps, Braille signage, w..

Next Story
Resources

Runwal Realty Onboards Sonam Kapoor as Brand Ambassador

Real estate major Runwal has unveiled a refreshed identity as Runwal Realty, signalling a renewed commitment to crafting spaces that stand the test of time. With this refresh, the brand unveils its new philosophy: “Building for Generations to Come” and welcomes Bollywood star and global fashion icon Sonam Kapoor as its brand ambassador. This evolved identity reflects Runwal Realty’s commitment to creating not just homes, but heirlooms—crafted through visionary design, meticulous planning, global design expertise and an unwavering focus on quality. With the customer at its core, each de..

Next Story
Infrastructure Urban

Emerging Trends in Infrastructure and Transport 2025: KPMG

KPMG’s latest report, The Great Reset: Emerging Trends in Infrastructure and Transport 2025 edition, sheds light on the profound changes transforming the global infrastructure landscape. As industries adapt to the challenges posed by climate change, economic pressures, and technological advancements, the report identifies key trends and provides actionable insights for leaders in infrastructure and transport sectors. “In today’s interconnected world, the lack of standardized supply chain practices is not just an operational challenge—it’s an environmental and economic one. We’..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?