CCI Approves PNC Infratech’s Acquisition of Jaiprakash Associates Under Insolvency Process

The Competition Commission of India (CCI) has approved the proposed acquisition of Jaiprakash Associates Limited (JAL) by PNC Infratech Limited. The transaction involves the acquisition of a minimum 95% and up to 100% stake in JAL by PNC Infratech, either directly or through a wholly owned special purpose vehicle (SPV). JAL is currently undergoing corporate insolvency resolution under the Insolvency and Bankruptcy Code, 2016.

PNC Infratech, a publicly listed infrastructure company, is primarily engaged in Engineering, Procurement, and Construction (EPC) projects, specializing in highways, expressways, bridges, flyovers, and airport runways.

Jaiprakash Associates Limited is a diversified infrastructure and industrial company with business interests spanning hydropower generation, cement manufacturing, real estate, hospitality, and EPC contracting.