New Delhi [India], September 17 (ANI): The Competition Commission of India (CCI) has approved the proposed acquisition of Jaiprakash Associates Limited by PNC Infratech Limited, a release said.
According to the official release, the proposed combination relates to the acquisition of minimum 95% and maximum up to 100% of Jaiprakash Associates Limited (JAL) by PNC Infratech Limited (PNC Infratech/Acquirer), or through a special purpose vehicle company that the Acquirer may incorporate in the future as its wholly owned subsidiary to acquire JAL. JAL is currently undergoing corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016.
PNC Infratech is a publicly listed infrastructure company in India engaged primarily in the execution of Engineering, Procurement, and Construction (EPC) projects, primarily in the road and highway sector. Its core activities include construction of highways, expressways, bridges, flyovers, airport runways, and other infrastructure projects.
JAL is a diversified infrastructure and industrial company engaged in sectors including hydropower generation, cement manufacturing, real estate development, hospitality, and EPC contracting, said the release. (ANI)
The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.
INDIAN TRADE MINISTRY SOURCE: INDIA TO STEP UP IMPORTS FROM U.S OF GOLD, ENERGY, DEFENCE…
London (PA Media/dpa) - People who identify as lesbian, gay or bisexual (LGB+) have a lower…
London (PA Media/dpa) - K-pop superstars BTS will launch their comeback with a live reunion concert…
By Jody Godoy Feb 3 (Reuters) - Netflix Co-Chief Executive Officer Ted Sarandos faces a…
By Danielle Broadway LOS ANGELES, Feb 1 (Reuters) - - British soul-pop singer Olivia Dean…
By Stephanie Kelly LONDON, Feb 3 (Reuters) - Oil prices edged lower on Tuesday, dropping…