CCI Approves Adani Group’s Acquisition of Jaiprakash Associates

The Competition Commission of India on Tuesday cleared the acquisition of the entire stake of Jaiprakash Associates by Adani Group companies, including Adani Enterprises and Adani Infrastructure and Developers, according to a press release from the regulator.

Earlier this month, the antitrust body also approved the acquisition of Jaiprakash Associates by Dalmia Cement (Bharat), a unit of Dalmia Bharat.

Jaiprakash Associates is undergoing corporate insolvency resolution under the Insolvency and Bankruptcy Code as directed by the Allahabad bench of the National Company Law Tribunal. The company had operations in real estate, cement, hospitality, engineering and construction, fertiliser, and power.