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.

• L&T Shares Trade With Nominal Losses Despite Securing Orders 
• Daily vs Weekly SIP: Which Can Supercharge Your Portfolio to the Million-Mark?
• Rail Vikas Nigam Shares Take a Hit Despite Rs 165 Crore Order 
• Lupin Shares Gain 1% as Unit Receives EIR Status from USFDA
• Glenmark Unit Signs Exclusive NSCLC Drug Pact with Hansoh Pharma; Shares Drop 1%

“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.