The Competition Commission of India (CCI) on Tuesday has approved the acquisition by BCP Topco IX Pte. Ltd. (BCP Topco), Waverly Pte Ltd. (GIC Investor) and Platinum Owl C 2018 RSC Limited (ADIA Investor) (‘Acquirers’) of Mphasis Limited (‘Target’) under Section 31(1) of the Competition Act, 2002.
The proposed transaction pertains to the acquisition of up to 75% shareholding in the Target by BCP Topco through a series of inter-connected transactions, as per the Ministry of Corporate Affairs.
BCP Topco is a private limited company, incorporated under the laws of Singapore. It has not been engaged in providing any products/services and/or performing the business of investment holding in India or worldwide, since its incorporation.
GIC Investor is a special purpose vehicle organised as a private limited company in Singapore that is part of a group of investment holding companies managed by GIC Special Investments Private Limited, Ministry of Corporate Affairs added.
Platinum Owl is acting in its capacity as trustee for Platinum Jasmine Trust, and Abu Dhabi Investment Authority (ADIA) is the sole beneficiary and settlor of the Platinum Jasmine Trust.
Target is a public limited company, registered under the Companies Act, 1956, listed on the National Stock Exchange of India Limited and BSE Limited. It is a global information technology (IT) service provider specialising in providing cloud and cognitive services, including application development and maintenance, infrastructure management services, knowledge processing services, service/technical helpdesk, transaction processing services and customer service, business process management/business process outsourcing (BPO) and infrastructure services, globally through a combination of technology knowhow, domain and process expertise.
Meanwhile, Mphasis Ltd shares ended at Rs1,916 down by Rs16.05 or 0.83% from its previous closing of Rs1,932.05 on the BSE.
#CCI #approves #BCP #Topco #entities #buying #stake #Mphasis #stock #ends
( With inputs from indiainfoline)