India’s fair trade regulator, the Competition Commission of India (CCI), on Monday approved the Renault Group’s proposal to acquire Japanese partner Nissan’s remaining 51 per cent stake in their Indian manufacturing joint venture, Renault Nissan Automotive India Pvt Ltd (RNAIPL).

Renault Group BV and its nominee, Renault SAS, will purchase the entire equity and preference shares held by Nissan Motor Company Ltd and its investment arm, Nissan Overseas Investments BV, in RNAIPL.

RNAIPL, which runs the alliance’s Chennai-based manufacturing facility, currently produces vehicles under both the Renault and Nissan brands. The move will see Renault Group becoming the sole owner of RNAIPL, though financial terms of the deal have not been disclosed.

Despite the divestment, Nissan will continue sourcing vehicles from the Chennai facility for both the domestic and export markets. The companies will also maintain their partnership at the Renault Nissan Technology & Business Centre India (RNTBCI), with Renault Group retaining 51 per cent and Nissan holding 49 per cent in that venture.

The buyout is part of a broader global framework agreement between the two automakers aimed at realigning their operations and equity structure.

Separately, the CCI has also approved a deal involving Anantam Highways Trust, Alpha Alternatives Fund Advisors LLP and others, along with Dilip Buildcon Ltd (DBL) and its subsidiary DBL Infraventures. Anantam is a SEBI-registered infrastructure investment trust, while DBL is engaged in highway construction.

The CCI continues to review and clear mergers and acquisitions above a certain value threshold to ensure fair competition and prevent anti-competitive practices in the Indian marketplace.