1. INTRODUCTION
On August 21, 2018, the Competition Commission of India (the
"Commission") approved the acquisition
of Century Textiles and Industries Limited
("Century") by UltraTech Cement Limited
("UltraTech"). Through this combination,
UltraTech has proposed to acquire the cement assets of Century,
situated in the Indian states of Madhya Pradesh, Maharashtra,
Chhattisgarh and West Bengal.
Notably, this is the fifth acquisition for which UltraTech has
had to take the Commission's approval. In fact, as recently as
a few months ago, the Commission approved UltraTech's proposed
acquisition of 100% of the equity shares of Binani Cement
Limited.1
We highlight below the key aspects of the approval by the
Commission.
