The Competition Commission of India (CCI) has approved EQT AB's acquisition of Baring Private Equity Asia Group Limited (BPEA) including its subsidiaries (BPEA Group), and to the extent not already owned by the BPEA Group and 100 per cent of the general partner entities (GPs).
It has also approved Jean Eric Salata Rothleder's (BPEA Founder) acquisition of up to 9.9 per cent of the equity shareholding of EQT.
An official release said that the proposed combination pertains to an acquisition (including by way of merger) of all the shares and sole control by EQT, indirectly through one or more wholly owned subsidiaries, of the BPEA Group.
BPEA Group and GPs are collectively referred to as Target.
It also pertains to control of the GPs which control each of the funds managed or advised by the BPEA Group (or its affiliates) to the extent not already owned by the BPEA Group and BPEA Founder acquiring up to 9.9 per cent of the equity shareholding of EQT.
The release said EQT is a purpose-driven global investment organisation focused on active ownership strategies.
The EQT group comprises EQT and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds and entities advising EQT funds.
Target, dual-headquartered in Hong Kong and Singapore, is a pan-Asian private markets firm.
The BPEA Group and its affiliates advise private equity funds active in several different markets, including technology, education, business services, manufacturing, logistics, healthcare and consumer sectors.
( With inputs from ANI )
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