The Competition Commission of India has approved the acquisition of Jaiprakash Associates Limited by Adani Group Entities.

The Proposed Combination relates to the acquisition of up to 100% shareholding of Jaiprakash Associates Limited (JAL) by Adani Enterprises Limited (AEL) and Adani Infrastructure and Developers Private Limited (AIDPL) or any other entity forming part of Adani Group. JAL is currently undergoing corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 pursuant to the directions of the National Company Law Tribunal, Allahabad Bench.

The Adani Group has business operations spread across sectors like energy, resource, logistics, materials, and agro, among others. AEL is the flagship company of the Adani portfolio of companies. AIDPL is the wholly owned subsidiary of Adani Properties Private Limited and is the holding company of all the realty businesses of the Adani Group.

JAL is a diversified infrastructure conglomerate with business interests in engineering & construction, cement, power, real estate, fertilizer, hospitality, sports etc.

Detailed order of the Commission will follow.

Competition approval: acquisition of Jaiprakash Associates by Adani Group entities cleared, target in insolvency process. Approval under competition law has been granted for the proposed acquisition of up to 100% of Jaiprakash Associates Limited by Adani Enterprises Limited and Adani Infrastructure and Developers Private Limited or other Adani group entities, constituting merger control clearance for the notified combination. The target is undergoing corporate insolvency resolution under the Insolvency and Bankruptcy Code, and the acquirers comprise the group's flagship industrial company and its realty holding company; a detailed order will follow.