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India: CCI approves Max India demerger plan

By  |  April 9, 2015

The Competition Commission of India (CCI) has approved Max India’s proposed corporate restructuring plan to vertically split the company through a demerger into three separate listed firms, including one for life insurance.

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    The proposed demerger plan “is not likely to have an appreciable adverse effect on competition in India”, the fair trade regulator said in its order.

    “As a result, pursuant to the proposed combination, Max, Taurus and Capricorn will have the same shareholding structure as the existing shareholding structure of Max,” the order said. Max had approached the CCI for its approval after its board had cleared the plan on 27 January 2015.

     

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