AP Asia Opportunistic Holdings gets CCI approval for stake-buy in JSW Cement

By: |
August 19, 2021 4:54 PM

Green channel is an automatic approval system, whereby a combination is deemed to have been approved by the CCI upon receiving the filing of the notice for the combination by the parties concerned.

JSW cementAP Asia is incorporated in Singapore and is indirectly controlled by investment funds managed by affiliates of Apollo Management

The Competition Commission of India (CCI) on Thursday said the stake acquisition in JSW Cement Ltd by AP Asia Opportunistic Holdings Pte Ltd has been approved under the green channel route.

Green channel is an automatic approval system, whereby a combination is deemed to have been approved by the CCI upon receiving the filing of the notice for the combination by the parties concerned.

“Commission receives notice under Green Channel filed by AP Asia Opportunistic Holdings for acquisition of approx. 12.55% equity share capital of JSW Cement and is deemed approved,” the regulator said in a tweet.

There are no overlaps between the parties to the proposed transaction and therefore it does not raise any risk of an appreciable adverse effect on competition in India, according to a combination notice filed with the regulator.

AP Asia is incorporated in Singapore and is indirectly controlled by investment funds managed by affiliates of Apollo Management, it added.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Startups pay higher increments to retain talent than overall industry; over 50% employees exceed expectations
2Realme Band 2 with SpO2 monitor, up to 12-day battery life launched in India; undercuts Xiaomi Mi Band 6 in price
3Premier Energies raises Rs 200 cr from GEF Capital