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CCI approves Liberty House's acquisition of debt-laden Amtek Auto

Mergers and acquisitions beyond a certain threshold require the approval of the Competition Commission of India

Amtek Auto

Last Updated : Nov 08 2018 | 10:17 PM IST

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.

ALSO READ: Amtek lenders mull new bidder after Liberty House misses repayment deadline

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.

ALSO READ: NCLT approves Liberty House resolution plan to acquire Amtek Auto