The Competition Commission of India (CCI) approved the acquisition of compulsorily convertible preference shares and equity shares in Airtel’s data centre business, Nxtra Data, by the Carlyle Group’s Comfort Investments II.
About Nxtra Data
Nxtra Data is a fully-owned subsidiary of Bharti Airtel Ltd and provides data centre colocation services through its 10 data centres located in India.
Comfort Investment ll
Comfort Investments II is a special purpose acquisition vehicle, owned and controlled by investment funds advised by the affiliates of The Carlyle Group.
Holdings
Carlyle will hold about 25% stake in the firm, with the rest remeaning with Airtel.
Nxtra Data’s valuation
In July, the Carlyle Group had announced that it would acquire around 25% in Nxtra Data for $235 million (Rs 1,780 crore).
This would put Nxtra Data’s valuation at $1.2 billion or over Rs 9,084 crore.
The CCI also approved the Lightstone Fund’s acquisition of equity stake in five firms on behalf of Lightstone Global Fund.
About Lightstone Fund
Lightstone Fund is an alternative investment fund managed by LGT Capital Partners (Ireland).
