PIB News Update: The Competition Commission of India (CCI) approves acquisition of certain assets of the Prestige Group by affiliates of Blackstone Group Inc.
The principal activity of the Acquirers viz affiliates of Blackstone Group Inc, is that of investment holding and related activities. However, at present, they do not have any business operations, in India or worldwide. The Acquirers are affiliates of funds advised or managed by the affiliates of The Blackstone Group Inc.
The Target Entities are engaged in the business of real estate development in India. They have a diversified portfolio of real estate development projects in key segments such as residential, commercial and hospitality across several cities in India.
Detailed order of the CCI will follow.