55.96 F
London
May 29, 2024
PI Global Investments
Infrastructure

CCI approves GIC’s proposed acquisition of Data Infrastructure Trust unitholding, ET Telecom


Fair trade regulator CCI has approved Singapore sovereign wealth fund GIC‘s proposed acquisition of additional unitholding in Data Infrastructure Trust. Data Infrastructure Trust (DIT) is a Sebi-registered Infrastructure Investment Trust (InvIT) that is into the business of providing passive telecom infrastructure services.

The US-based Brookfield Asset Management is the sponsor of DIT.

Valkyrie Investment Pte and Anahera Investments Pte — two wholly-owned subsidiaries of GIC — will acquire the additional unitholding in DIT and consequent rights in BIP India Infra Projects Management Services (BIP IndiaInfra).

BIP Infra is the investment manager for DIT and will primarily manage the operations and investments of the InvIT.

The Competition Commission of India (CCI) has cleared the deal under the green channel route.

continued below

The regulator also gave its nod to Valkyrie and Anahera for the acquisition of preference shares and certain rights in BIF IV Jarvis IM Holdco Pte (Jarvis IM HoldCo).

Jarvis IM HoldCo was recently incorporated solely for the purpose of simplifying the governance structure of DIT.

“Pursuant to the proposed transaction, no horizontal, vertical and complementary overlaps arise between the activities of the GIC Group entities and the targets (DIT, Jarvis IM HoldCo and BIP India Infra).

“The transaction does not raise any risk of an appreciable adverse effect on competition in the plausible relevant market,” the competition watchdog said in a notice on Thursday.

Therefore, the proposed transaction is being notified under the green channel route, it added.

Under the green channel route, a transaction which does not raise any risk of an appreciable adverse effect on competition is deemed to be approved on being intimated to the fair-trade regulator.

  • Published On Jan 13, 2024 at 07:55 AM IST

Most Read in Industry

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETTelecom App

  • Get Realtime updates
  • Save your favourite articles



Source link

Related posts

Infrastructure woes and foetid tap water in paradise

D.William

Potential Upside For Tianjin Tianbao Infrastructure Co., Ltd. (SZSE:000965) Not Without Risk

D.William

Cybersecurity Guidance on Chinese-Manufactured UAS for Critical Infrastructure Owners and Operators – sUAS News – The Business of Drones

D.William

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.