Supreme Court: Drug Users are Victims and Focus Must Be on Breaking the Supply Chain  ||  Supreme Court: Non-Signatories May Join Arbitration When the Dispute Affects Their Rights  ||  Delhi HC: Homemaker’s Services Cannot Be Ignored in Compensation Due to Age  ||  Kerala High Court Directs Photos and Videos of Illegal Vehicle Modifications in Accident Reports  ||  Madras HC: Property Acquired by Catholic Priests Belongs to the Religious Society  ||  Delhi HC: Pre-Marital Disability Cannot Be Used to Avoid Maintenance to Wife and Child  ||  Allahabad HC: Religious Freedom Does Not Confer a Right to a Specific Plot for Cemetery  ||  Allahabad HC: Dissatisfaction With Police Probe Alone Cannot Prove Wilful Neglect under SC/ST Act  ||  Kerala HC: Teachers Cannot Face Criminal Action for Trivial Classroom Discipline Measures  ||  Supreme Court: Past Ad Hoc Service Counts for Pension, Not Seniority Against Direct Recruits    

CCI approves acquisition of 100% equity stake, management and control in 12 special purpose vehicles of PNC Infratech Limited and PNC Infra Holdings by Highway Infrastructure Trust- (Press Information Bureau) (07 Aug 2024)

MANU/PIBU/0614/2024

MRTP/ Competition Laws

The Competition Commission of India (CCI) has approved the acquisition of 100% equity stake, management and control in twelve (12) special purpose vehicles of PNC Infratech Limited and PNC Infra Holdings (PNC SPVs/Targets) by Highway Infrastructure Trust (Acquirer Trust).

The Acquirer Trust is an irrevocable trust settled under the Indian Trusts Act, 1882, and is registered as an infrastructure investment trust with the Securities Exchange Board of India, to carry out the activities prescribed under the SEBI (Infrastructure Investment Trusts) Regulations, 2014. The Acquirer Trust owns special purpose vehicles incorporated in India, which are engaged in the business of operating roads and highways in India for which the special purpose vehicles have been granted government concessions. Galaxy Investments II Pte. Limited is the sponsor and Highway Concessions One Private Limited (HC One) is the investment manager, of the Acquirer Trust, in terms of the SEBI (Infrastructure Investment Trusts) Regulations, 2014.

The PNC SPVs have been incorporated as special purpose vehicles. The PNC SPVs have entered into concession agreements with the National Highway Authority of India / Uttar Pradesh State Highways Authority for holding, developing, operating, and maintaining infrastructure projects under Hybrid annuity model / Build-Operate-Transfer, respectively.

Tags : ACQUISITION   APPROVAL   PNC INFRATECH  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved