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CCI approves Ashoka Buildcon's 34 pc stake buy in Ashoka Concessions

Project-Your-State-cci-approves-ashoka-buildcons-34-pc-stake-buy-in-ashoka-concessions

Published 17 Jan, 2025

By Staff Reporter

The Competition Commission of India (CCI) on Tuesday approved Ashoka Buildcon's proposal to acquire the remaining 34 per cent stake in Ashoka Concessions Ltd.

Currently, Ashoka Buildcon Ltd (ABL) owns a 66 per cent holding in Ashoka Concessions Ltd (ACL). After the CCI's approval, ACL will become a wholly-owned subsidiary of Ashoka Buildcon.

The proposed combination relates to the acquisition of 34 per cent equity shareholding of Ashoka Concessions by Ashoka Buildcon and certain convertible instruments of ACL by ABL and Viva Highways, CCI said. Viva Highways is a subsidiary of Ashoka Buildcon.



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