On December 24, 2012, the CCI approved a combination involving Aditya Birla Nuvo Limited, Peter England Fashions & Retail Limited, Indigold Trade and Services Limited and Pantaloon Retail (India) Limited.

The combination relates to the acquisition of the undertakings, business, activities and operations of PRIL pertaining to pantaloons format business by ABNL, through its indirect wholly owned subsidiary PEFRL, by way of a demerger on a going concern basis.

The notice was filed by the Parties pursuant to approval of scheme of arrangement by the board of directors of PRIL, PEFRL and ITSL on September 9, 2012.

AZB Partners acted on behalf of Pantaloon Retail (India) Limited and assisted in preparation, drafting and submitting of the joint filing of the notice to the CCI for the approval. The deal was approved by the CCI unconditionally. Team involved was Samir Gandhi, Partner; Aparna Mehra, Senior Associate and Bidisha Das,