CCI clears Liberty House#39;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.