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.

• Transrail Lighting Bags Rs 459 Cr MENA Transmission Orders
• Kotak Mahindra Bank Hikes DCC Fee to 3.5% from August
• Jubilant Pharmova Arm Gets USFDA Nod for Antacid Drug
• TVS Motor Jumps 3.75% as NTORQ 125 Gets New Colours
• Fortis Healthcare Falls 2.25% as Delhi Govt Orders Probe

“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.