The Competition Commission of India (CCI) has given its approval for the acquisition of Holcim's stake in Ambuja Ltd and ACC Ltd by the Adani Group.
In a tweet on Friday, the watchdog said it has approved the "acquisition of the stake in Holderind Investments, Ambuja Cements and ACC by Endeavour Trade and Investment".
The proposed combination involves acquisition of 100 per cent stake in Holderind Investments Ltd by Endeavour Trade and Investment Ltd.
Endeavour Trade and Investment Ltd is a Mauritius-based company and belongs to the Adani Group.
Holderind Investments is held by Holderfin BV and belongs to the Switzerland-based Holcim group and is a holding company of cement manufacturers Ambuja Cements and ACC Ltd.
Holderind Investments owned 63.11 per cent stake in Ambuja Cements and 4.48 per cent stake in ACC and further, Ambuja held 50.05 per cent stake in ACC.
