{"id":3572,"date":"2024-05-28T15:46:01","date_gmt":"2024-05-28T15:46:01","guid":{"rendered":"https:\/\/khabarok.com\/business\/cci-approves-de-merger-of-itcs-hotel-biz-to-its-subsidiary-itc-hotels-ltd\/"},"modified":"2024-05-28T15:46:01","modified_gmt":"2024-05-28T15:46:01","slug":"cci-approves-de-merger-of-itcs-hotel-biz-to-its-subsidiary-itc-hotels-ltd","status":"publish","type":"post","link":"https:\/\/khabarok.com\/?p=3572","title":{"rendered":"CCI approves de-merger of ITC\u2019s Hotel biz to its subsidiary ITC Hotels Ltd"},"content":{"rendered":"

<\/p>\n

\n

Competition Commission of India (CCI) has given its nod for the proposed de-merger of the hotels business of ITC Ltd into ITC Hotels Ltd.<\/p>\n

\u201cCommission approves demerger of Hotels Business of ITC Ltd to its wholly-owned subsidiary ITC Hotels Ltd,\u201d CCI said in a post at platform \u201cX\u201d.<\/p>\n

In August 2023, ITC Board had approved the demerger of its hotels business into a separate entity.\u00a0Shareholders of ITC are to get one share in the soon-to-be-listed hotel entity for every 10 shares held by them in ITC Ltd.<\/p>\n

ITC shareholders are scheduled to meet on June 6 to consider and approve the demerger proposal.\u00a0<\/p>\n

Meanwhile, in another transaction, CCI has approved the right to nominate a director on the board of directors of Embassy Office Parks REIT by the APAC Company XXIII Ltd and Kotak Performing RE Credit Strategy Fund.<\/p>\n

\n
\n

SHARE\n<\/p>\n

    \n
  • Copy link<\/li>\n
  • Email<\/li>\n
  • Facebook<\/li>\n
  • Twitter<\/li>\n
  • Telegram<\/li>\n
  • LinkedIn<\/li>\n
  • WhatsApp<\/li>\n
  • Reddit<\/li>\n<\/ul>\n<\/div>\n

    Published on May 28, 2024 <\/p>\n<\/div>\n<\/div>\n