CCI approves ITC Hotels demerger plan

Fair trade regulator CCI has approved the demerger of ITC Ltd’s hotel business into a separate entity, ITC Hotels Ltd. The demerger will result in shares of ITC Hotels Ltd being listed on stock exchanges. ITC will continue to hold a 40 per cent stake, while the remaining 60 per cent will be held by the conglomerate’s shareholders. The proposed combination relates to the demerger of the demerged undertaking to ITC’s newly incorporated subsidiary, ITC Hotels.