Amazon Asia-Pacific Resources Private Limited is set to acquire Prione Business Services Private Limited after getting approval from the Competition Commission of India on Thursday.
The proposed combination pertains to the proposed acquisition of Seventy-Six percent of the equity shares of Prione Business Services Private Limited (Target) by Amazon Asia-Pacific Resources Private Limited (Acquirer).
The acquirer is an indirect wholly-owned subsidiary of Amazon.com, Inc. (ACI). ACI is the ultimate parent entity of the Amazon group.
The Acquirer does not undertake any business activity in India. However, ACI, the ultimate parent company of the Acquirer, has certain indirect subsidiaries either registered in India or having business operations in India.
Target is an Indian-owned and controlled company and is controlled by Hober Mallow Trust (Hober Mallow).
Seventy-Six percent of the share capital of Target is held by Hober Mallow. Acquirer already owns Twenty-three percent of the share capital of Target and Amazon Eurasia Holdings S.a.r.l. owns One percent of the share capital of Target.
Target offers a variety of services tailored to help small and medium businesses (“SMBs”) run their online businesses efficiently, inter alia, including digital cataloging, advertising, training and consulting, advisory and value-added services, adopting digital payments, and other overall enablement services.
Target has a wholly-owned subsidiary Cloudtail India Private Limited (CT). CT is engaged in the B2C retail business in India and currently offers for sale products to customers on the online marketplace, www.amazon.in operated by Amazon Seller Services Private Limited (Amazon Marketplace). CT is also engaged in wholesale (B2B) trading of products through online and offline channels.