14 , February , 2023
In a recent development, Competition Commission of India has approved the acquisition of commercial real estate assets by Nexus Select Trust. Nexus Select Trust is a Sebi-registered real estate investment trust (acquirer REIT) and is backed by global investment firm Blackstone. The proposed transaction 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, according to an official release.
It also cleared the direct acquisition of 50 per cent equity shares of ITIPL from its existing shareholders by the acquirer REIT (acting through its manager), the release said. The entities are primarily engaged in the commercial real estate sector in India.
(WITH INPUTS TAKEN FROM PTI)