Bharti Airtel Wednesday said it has signed a pact to sell a roughly 25% stake in its data centre unit Nxtra Data Ltd. for $235 million.
“The post-money enterprise valuation of Nxtra is approximately USD 1.2 billion and Carlyle will hold a stake of approximately 25% in the business upon completion of the transaction, with Airtel continuing to hold the remaining stake of approximately 75%,” the two companies said in a joint statement.
The transaction is subject to the necessary regulatory approvals, including approval from the Competition Commission of India.
The stake will be bought by Comfort Investments II, an affiliated entity of CAP V Mauritius Limited, an investment fund managed and advised by affiliated entities of The Carlyle Group.
ET had reported about the stake sale in its July 1 edition.
Source: Economic Times