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The Competition Commission of India (CCI) has approved the demerger of ITC Ltd's hotel business into a newly incorporated subsidiary, ITC Hotels Ltd. Post-demerger, ITC Hotels will be listed on stock exchanges, with ITC retaining a 40% stake. This move aims for internal restructuring without altering market dynamics.
Fair trade regulator CCI on Tuesday said it has approved the demerger of the hotel business of diversified entity ITC Ltd into a separate entity. After the completion of the demerger, shares of ITC Hotels Ltd, a new entity, will be listed on the stock exchanges. The proposed combination relates to the demerger of the demerged undertaking to ITC's wholly-owned newly incorporated subsidiary, ITC Hotels.
Toronto Stock Exchange (TSX) and NYSE-listed automotive products manufacturing giant Magna that ended 2023 with revenues of nearly $43 billion and has 342 production units, ......
The metro will improve connectivity and lead to opportunities to redevelop property in old Gurugram, experts said.
The company plans to complete the design work of the remaining phases by the end of this year, and may launch the third phase at the beginning of next year.