 "General Atlantic")
GAP Arthur Holdco LP is an affiliate of General Atlantic.
The Competition Commission of India (CCI) on Tuesday cleared US-based private equity firm General Atlantic’s proposal to acquire a 100 per cent stake in Actis Holdings.
Actis Holdings S. r.l is a sustainable infrastructure investor, investing globally in, energy infrastructure, digital infrastructure, real estate and private equity.
“CCI approves the proposed acquisition of 100% shareholding of Actis Holdings S. r.l. by GAP Arthur Holdco, LP,” the fair trade regulator said in a post on X.
GAP Arthur Holdco LP is an affiliate of General Atlantic.
In January this year, General Atlantic (GA) and Actis announced that the firms have entered into a definitive agreement under which GA will acquire Actis, creating a diversified, global investment platform with USD 96 billion in combined assets under management (AUM).
Under the terms of the agreement, Actis will become the sustainable infrastructure arm within General Atlantic’s global investment platform.
In a separate post on X, CCI approved the proposed acquisition for the balance 51 per cent stake by Rane Holdings Ltd in Rane NSK Steering Systems Pvt Ltd.
Rane Holdings Ltd (RHL) is engaged in the manufacturing and marketing of automotive components for the transportation industry including parts of steering and suspension systems, friction materials, and valve train components.
“Commission approves the proposed acquisition for the balance 51 per cent shareholding by Rane Holdings Limited in Rane NSK Steering Systems Pvt Ltd,” CCI said.
Rane NSK Steering Systems Pvt Ltd (RNSSPL) is a joint venture company between RHL having 49 per cent and NSK 51 per cent in its equity capital.
RNSSPL is engaged in the manufacturing and supply of mechanical of steering columns, electric power steering columns, and various components of the steering column.
The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Sep 03 2024 | 10:00 PM IST