Frontizo’s wholly-owned subsidiary, Appario Retail, is engaged in retail (B2C) business and wholesale (B2B) sales in India
New Delhi: Fair trade regulator Competition Commission of India (CCI) on Tuesday approved Amazon Asia-Pacific Holdings’ proposal to acquire a 76% stake in Frontizo from Zodiac Wealth Advisors LLP.
Frontizo’s wholly-owned subsidiary, Appario Retail, is engaged in retail (B2C) business and wholesale (B2B) sales in India. It offers products to customers on the Amazon India Marketplace.
Appario is a JV of Amazon and Patni group-owned Zodiac Wealth Management. Zodiac had a 76% stake, Amazon Asia Pacific Holdings held a 23% stake with Zaffre LLC holds a 1% share in Appario Retail.
“The proposed combination involves the acquisition by Amazon Asia-Pacific of 76% of the equity shares in Frontizo from Zodiac Wealth Advisors LLP (Zodiac),” the CCI said in a release.Meanwhile, the CCI also cleared the acquisition of Appario’s entire business, as a going concern, by Clicktech Retail Pvt Ltd (CRPL) and buying of 1% shareholding by Haverl in New Trends Commerce Pvt Ltd (NTCPL).
Clicktech Retail is a seller on Amazon India marketplace.
Haverl is engaged in the business of making and holding investments, CEPL is the parent/holding entity of NTCPL. The latter is the parent entity of CRPL.
CRPL is engaged in B2C and B2B sale of products to customers on the Amazon India marketplace.
