India, Sept. 16 -- The Competition Commission of India (CCI) on Tuesday granted in-principle approval to PNC Infratech's proposal to acquire debt-ridden Jaiprakash Associates Ltd (JAL), contingent on the company winning the ongoing insolvency bid.
According to the regulator, the proposed deal involves acquiring at least 95% and up to 100% of JAL, either directly by PNC Infratech or through a special purpose vehicle that may be set up as its wholly owned subsidiary to complete the acquisition.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....