Latest News | Shares of Nxtra Data Issued to Carlyle Affiliated Entity Post CCI Nod: Airtel
Get latest articles and stories on Latest News at LatestLY. Bharti Airtel on Thursday said shares of its subsidiary Nxtra Data have been issued to CA Cloud Investments, an affiliated entity of Carlyle Asia Partners, following CCI nod to the recently-announced deal.
New Delhi, Oct 15 (PTI) Bharti Airtel on Thursday said shares of its subsidiary Nxtra Data have been issued to CA Cloud Investments, an affiliated entity of Carlyle Asia Partners, following CCI nod to the recently-announced deal.
On July 1, Airtel had announced that Carlyle Group will acquire about 25 per cent stake in its data centre business, Nxtra Data, for USD 235 million.
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In a regulatory filing on Thursday, Airtel said, "...we hereby inform that upon receipt of approval from the Competition Commission of India and after completion of other condition precedents agreed between the parties, the first closing has been completed and the securities of Nxtra Data Limited, a subsidiary of the company, have been issued to CA Cloud Investments, an affiliated entity of Carlyle Asia Partners."
As per the July announcement, on completion of the deal, Carlyle will hold about 25 per cent stake in the business, with Airtel continuing to hold the remaining stake of about 75 per cent.
The enterprise valuation of Nxtra was pegged at USD 1.2 billion.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)