CCI clears Honda's proposal to acquire additional 21% stake in Astemo

Japan's Honda Motor Co. has received a green light from the Competition Commission of India (CCI) to acquire an additional 21% stake in automotive components maker Astemo from Hitachi. This move will transform Astemo into a consolidated subsidiary of Honda. The deal, announced last December, will see Honda's ownership increase significantly, solidifying its control over the key auto parts manufacturer.