The Competition Commission of India (CCI) has approved acquisition up to 16.94% equity share capital of IRB Infrastructure Developers (IRB / Target) by Bricklayers Investment (GIC Investor /Acquirer) under Section 31(1) of the Competition Act, 2002.
The proposed combination relates to GIC Investor's proposed acquisition of up to 16.94% of the share capital of Target on a fully diluted basis and non-fully diluted basis, through the subscription of new shares issued by way of a preferential issue on private placement.
IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.
