CCI Clears Citrus Investment Deal in Hitachi Construction Machinery, Grants Sole Control of HCJI

By: Rutuja Ghume

Date:

April 10, 2026

The Competition Commission of India has approved a key investment proposal by Citrus Investment LLC involving Hitachi Construction Machinery and its joint venture entity HCJI Holdings K.K., marking a strategic shift in ownership structure.

Under the approved transaction, Citrus Investment will acquire an additional 0.4% stake in Hitachi Construction Machinery through open market purchases on the Tokyo Stock Exchange. Alongside this, the firm will gain sole control of HCJI, a previously 50:50 joint venture, through a share buyback mechanism.

Regulators noted that the deal primarily involves changes in shareholding and governance structure, without impacting operational activities or market competition in India. HCJI functions as a holding entity for shares in Hitachi Construction Machinery and does not have independent business operations.

Citrus Investment operates as an investment vehicle and is not engaged in active commercial business, making the transaction largely financial in nature.

Experts say the approval reflects a broader trend of strategic stake consolidation and governance control in the global construction equipment sector, as investors seek long-term value amid rising infrastructure demand.

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