The Competition Commission of India recently approved the acquisition of commercial real estate assets by Nexus Select Trust. As per details, the Nexus Select Trust is a Sebi-registered real estate investment trust (acquirer REIT) and backed by global investment firm Blackstone.
According to the proposed transaction plan, it involves the direct acquisition of 100 per cent shareholding of 15 entities and indirect acquisition of 100 per cent shareholding of two entities acting through acquirer REIT's manager -- Select Infrastructure Pvt Ltd and Nexus South Mall Management Pvt Ltd.
CCI also cleared the direct acquisition of 50 per cent equity shares of ITIPL from its existing shareholders by the acquirer REIT. Both the entities are primarily engaged in the commercial real estate sector in India.
Earlier CCI cleared the acquisition of stake in Hindustan Ports Pvt Ltd by National Investment and Infrastructure Fund (NIIF). The proposed transaction relates to NIIF's acquisition of up to 25 per cent in Hindustan Ports Pvt Ltd (HPPL).
