I. Notable merger control/combinations
1. Press Release No. 18/2024-25 dated May 28, 2024: Approval of
demerger of hotel business of ITC Limited
("ITC") to ITC Hotels Limited
("ITC Hotels")
The proposed combination relates to the demerger of all
businesses, undertakings, activities and operations of ITC to
ITC's wholly owned subsidiary ITC Hotels as per the terms of
the Scheme of Arrangement approved by the respective boards of ITC
and ITC Hotels on August 14, 2023.
The hotel and hospitality business of ITC includes inter alia
owning, licensing, operating, managing, servicing, marketing and
supervising the operations of hotels, and includes accommodation,
dining and banquet services and existing investments in certain
subsidiaries and associate companies of ITC in the hotels and
hospitality sector. This marks a shift from the historical manner
of operation for the ITC group, and it remains to be seen how the
demerger of the hotel business will affect the
