India, March 5 -- The Competition Commission of India has approved the acquisition of equity shares of PSP Projects Limited by Adani Infra (India) Limited.
The proposed transaction involves the acquisition by Adani Infra (India) Limited (Acquirer) of equity shares of PSP Projects Limited (Target) from: (i) Mr. Prahaladbhai S. Patel (Seller) (Initial Acquisition); and (ii) public shareholders by way of an open offer (Open Offer), such that, post-closing of the Initial Acquisition and Open Offer, the Acquirer (on the one hand) and the Seller and other existing promoters (on the other hand) would hold equal shareholding.
The Acquirer is an infrastructure development company with specialization in comprehensive engineering, project management...