The Competition Commission has given its nod for the proposed acquisition of a stake in IT company Mphasis by BCP Topco, Waverly Pte and Platinum Owl.
The proposed transaction pertains to the acquisition of up to 75 per cent shareholding in Mphasis by BCP Topco through a series of inter-connected transactions.
A release issued on Tuesday said the Competition Commission of India (CCI) has cleared the acquisition of Mphasis stake by BCP Topco IX Pte Ltd, Waverly Pte Ltd and Platinum Owl C 2018 RSC Ltd.
BCP Topco is a private limited company incorporated in Singapore and is linked to private equity major Blackstone, while
NSE 1.92 % Investor is a special purpose vehicle that is part of investment holding companies managed by GIC Special Investments Pvt Ltd.
Platinum Owl is acting in its capacity as trustee for Platinum Jasmine Trust. Abu Dhabi Investment Authority (ADIA) is the sole beneficiary and settlor of the Platinum Jasmine Trust.
In April, Blackstone had made an Rs 8,262 crore offer to acquire an additional 26 per cent stake in Mphasis Ltd as it looks to consolidate its holding in the IT outsourcing service provider amid a surge in demand for cloud computing.
Blackstone had bought a majority 60.5 per cent stake in Mphasis in 2016 from Hewlett Packard Enterprise Co.
Source: Economic Times