Shares of Nxtra Data issued to Carlyle affiliated entity post CCI nod: Airtel

In this news, we discuss the Shares of Nxtra Data issued to Carlyle affiliated entity post CCI nod: Airtel.

Bharti Airtel said on Thursday that shares in its subsidiary Nxtra Data were issued to CA Cloud Investments, an entity affiliated with Carlyle Asia Partners, following CCI’s nod to the recently announced deal. On July 1, Airtel announced that Carlyle Group would acquire approximately 25% stake in its data center business, Nxtra Data, for $ 235 million.

In a regulatory filing on Thursday, Airtel said: “… we hereby inform that upon receipt of the approval of the Competition Commission of India and after the completion of other conditions precedent agreed between the parties, the first Closing was completed and the securities of Nxtra Data Limited, a subsidiary of the company, were issued to CA Cloud Investments, an entity affiliated with Carlyle Asia Partners. According to the July announcement, at the end of the deal, Carlyle will own approximately 25% of the company’s equity, with Airtel continuing to hold the remaining approximately 75% stake. Nxtra’s corporate valuation was set at $ 1.2 billion.

News Highlights:

  • Bharti Airtel said on Thursday that shares in its subsidiary Nxtra Data had been issued to CA Cloud Investments, an affiliate of Carlyle Asia Partners, following CCI’s nod to the recently announced deal.
  • Nxtra Data shares issued to Carlyle affiliate after CCI sign: Airtel
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