CCI approves Baring PE -NIIT Tech deal

CCI approves Baring PE -NIIT Tech deal

FPJ BureauUpdated: Tuesday, May 28, 2019, 11:50 PM IST
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New Delhi: The Competition Commission has cleared Baring Private Equity Asia’s (BPEA) 30 pc stake purchase in mid-sized IT services firm NIIT Technologies in a Rs 2,627-crore deal.

The acquisition will trigger an open offer under which BPEA will make an offer to public shareholders of NIIT Technologies for purchasing up to 26 pc additional shareholding, taking the total deal value to up to Rs 4,890 cr. In a tweet, the CCI said it “approves acquisition of share capital of the NIIT Technologies Limited by Hulst B.V.”

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