The Competition Commission of India (CCI) on Tuesday 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.
Following the demerger, shares of ITC Hotels will be listed. ITC will continue to…
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