PNC Infratech has received approval from the Competition Commission of India (CCI) for acquisition of Jaiprakash Associates (JAL). The proposed combination relates to the acquisition of minimum 95% and maximum up to 100% of JAL by 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 an infrastructure construction, development and management company, with expertise in execution of major infrastructure projects, including highways, bridges, flyovers, airport runways, power transmission lines, development of industrial areas and other infrastructure activities.
