New Delhi [India], September 17 (ANI): The Competition Commission of India (CCI) has permitted the proposed acquisition of Jaiprakash Associates Limited by PNC Infratech Limited, a launch stated.
According to the official launch, the proposed mixture pertains to the acquisition of minimal 95% and most as much as 100% of Jaiprakash Associates Limited (JAL) by PNC Infratech Limited (PNC Infratech/Acquirer), or via a particular function car firm that the Acquirer could incorporate sooner or later as its wholly owned subsidiary to accumulate JAL. JAL is at the moment present process company insolvency decision course of underneath the Insolvency and Bankruptcy Code, 2016.
PNC Infratech is a publicly listed infrastructure firm in India engaged primarily within the execution of Engineering, Procurement, and Construction (EPC) initiatives, primarily within the street and freeway sector. Its core actions embrace development of highways, expressways, bridges, flyovers, airport runways, and different infrastructure initiatives.
JAL is a diversified infrastructure and industrial firm engaged in sectors together with hydropower era, cement manufacturing, actual property improvement, hospitality, and EPC contracting, stated the discharge. (ANI)