Amazon, India has approached the Indian antitrust body, Competition Commission of India (CCI), to seek its approval for acquiring Narayana Murthy-led Catamaran Ventures’ stake in Prione, which operates Cloudtail, just months after a mutual decision to end their joint venture.

If the approval for the deal comes through, Amazon will hold a 100 per cent stake in Prione.

• PTC Industries Shares Soar 4% on Inking a Supply Agreement 
• HCL Tech Shares Gain 2% on Partnering Up with Strategy 
• Shares of Shriram Pistons skyrocketed 9% on Acquiring Antolin Lighting
• Stocks in Focus: Lloyds Engineering, SEAMEC, RailTel, and Others
• Overnight Stock Market Movements: Key Developments 

“Prione Business Services Pvt. Ltd., the joint venture between Catamaran and Amazon, will be acquired by Amazon subject to requisite regulatory approvals. On August 09, 2021, the Partners announced their decision not to continue the JV beyond the end of its current term of May 2022. Amazon will acquire Catamaran’s shareholding in Prione in compliance with applicable laws, including all assets and liabilities,” Amazon India and Catamaran said.