CCI Approves Four Major Transactions
The Competition Commission of India (CCI) on Wednesday approved four separate transactions, including the acquisition of the parent company of Indian Premier League franchise Royal Challengers Bengaluru, investments in fintech firm KreditBee, a highways infrastructure investment trust (InvIT) deal, and a stake acquisition in Nippon Life India AIF Management.
RCB Parent Company Acquisition
In a statement, the CCI said it has cleared the acquisition of 100% shareholding of Royal Challengers Sports Private Limited (RCSPL) by a consortium comprising Big Banyan Holdings, Bolt IPL Holdings, Times Internet, Times Cricket, ICQ Opportunities, Asia Investment Topco II, and other investors. RCSPL is primarily engaged in owning and operating the Royal Challengers Bengaluru franchise, including the men's and women's teams participating in the IPL and Women's Premier League.
KreditBee Investment Approved
The regulator also approved the acquisition of certain shares in Krazybee Services Limited and Finnovation Tech Solutions Private Limited by Singapore-based Mars Equity Dragon Fund VCC. Krazybee is an RBI-registered NBFC offering personal, business, property, and two-wheeler loans. Finnovation operates the KreditBee app, through which customers can access loans and UPI-based payment services.
Highways InvIT Transaction
Another approved deal involves Anantam Highways Trust (InvIT), Build India Infrastructure Fund (BIIF), Dilip Buildcon Limited (DBL), and DBL Infraventures Private Limited. The transaction includes the acquisition of shareholding in seven special purpose vehicles engaged in highway and expressway projects across multiple states, along with the issuance of InvIT units to BIIF, DBL, and DIPL.
DWS Group to Acquire Stake in Nippon Life AIF
Separately, the CCI approved the acquisition of a stake in Nippon Life India AIF Management Limited by Germany-based asset manager DWS Group GmbH & Co. KGaA. The target company is involved in alternative asset management and acts as an investment manager and sponsor to SEBI-registered alternative investment funds, as well as a co-investment portfolio manager.
