Antitrust authority The Competition Commission of India (CCI) approved AZK4 LLC's acquisition of a stake in Zetwerk Manufacturing Businesses on Friday.

The transaction has been approved through the green channel.

AZK4 LLC is an investment vehicle managed by an Avenir management business situated in the United States.

According to a CCI notice, the proposed transaction involves AZK4 LLC (acquirer) subscribing to and purchasing 2.96 percent of Zetwerk's shares through a combination of primary and secondary transactions.

Zetwerk provides manufacturing services to companies in the precision components, capital goods, and consumer products industries.

CCI stated that the transaction had been approved.

"Given that there are no horizontal overlaps or vertical or complementary links between the parties' activities (including their joint operations),

According to an update on CCI's website, "the proposed combination is being notified via the green channel route."

When a transaction is informed to the fair-trade regulator via the green channel, it is presumed to be permitted if there is no risk of a noticeable unfavourable effect on competition.