CCI clears Liberty House's buyout of Amtek Auto
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.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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