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CCI clears Liberty House's buyout of Amtek Auto

Mergers and acquisitions beyond a certain threshold require the approval of the Competition Commission of India (CCI), which keeps a tab on unfair business practices across sectors.

November 08, 2018 / 22:55 IST
With 160 deals, IT and ITES was the busiest sector followed by manufacturing and healthcare (47). The banking, financial services and insurance (BFSI) space was third, recording 41 deals. Let's take a look at the biggest mergers and acquisitions in India this year. (Representative image)
     
     
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    The Competition Commission has approved Liberty House's proposed acquisition of debt-laden Amtek Auto, according to a tweet.

    In July, the National Company Law Tribunal (NCLT) gave its nod for the deal.

    "@CCI_India approves acquisition of Amtek Auto Limited by Liberty House," the regulator said in a tweet.

    Mergers and acquisitions beyond a certain threshold require the approval of the Competition Commission of India (CCI), which keeps a tab on unfair business practices across sectors.

    Amtek is into making auto components

    Incorporated in Singapore, Liberty House is a private limited company and a wholly-owned subsidiary of Liberty Global Holding Ltd. The principal activity of the company is that of an investment holding company, as per the notice submitted to the CCI.

    PTI
    first published: Nov 8, 2018 10:44 pm

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