The commission determined that the acquisition did not raise competition concerns, allowing the transaction to proceed.
The company plans to use the funds to launch a zero-sugar product line and expand its range of healthy products.
The EU concluded in early December that the deal would not harm competition and approved it unconditionally.
This investment is in line with Vision 2030 and supports the growth of Saudi Arabia’s private equity market.
Nubank led the investment with $150 million, while M&G's Catalyst contributed $50 million.
The agreement comes as Innoviz faces cash flow challenges.
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