Blackstone-KRC Group deal gets CCI approval

The Competition Commission has given its nod to global investment firm Blackstone's proposed acquisition of stakes in K Raheja Corp Group entities that are into real estate activities.
Blackstone would carry out the transactions through its special purpose vehicles -- BREP Asia SBS Pearl Holding (NQ), BREP Asia SG Pearl Holding(NQ) Pte and BREP VIII SBS Pearl Holding (NQ), as per notice submitted to the regulator.
They would acquire stakes in various entities of KRC Group. The entities are Mindspace Business Parks, K Raheja IT Park (Hyderabad), Intime Properties, Sundew Properties, Avacado Properties And Trading (India), Gigaplex Estate, Newfound Properties and Leasing, Horizonview Properties and KRC Infrastructure and Projects, according to the notice.

In a tweet, the Competition Commission of India (CCI) said it has approved "acquisition of stakes in certain entities of KRC Group by Blackstone.