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.
- Uber Gets Slapped with £250 Million Lawsuit from London’s Black Cab Drivers
- Dabur India Shares Rally 5% on Strong Q4 Earnings
- Adani Enterprises Shares Fall 1% on Weak Q4 Earnings
- Avaada Energy Receives Rs 1,190 Crore Loan for Solar Project
- GE T&D India Shares Hit 52-Week High on Securing New Orders
“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.