EQT AB's acquisition of Baring Pvt Equity Asia Group gets CCI nod

The Competition Commission of India (CCI) has approved EQT AB's proposed acquisition of Baring Private Equity Asia Group Ltd and its subsidiaries as well as the majority control of its general partner entities.

The proposed combination pertains to an acquisition, including by way of merger, of all the shares and sole control by EQT, indirectly through one or more wholly-owned subsidiaries, of Baring Private Equity Asia Group (BPEA Group). This would be to the extent not already owned by the BPEA Group, control of its general partners which control each of the funds managed or advised by the BPEA Group and its affiliates.

In March, EQT AB announced that it has reached an agreement to acquire the Hong-Kong-based Baring Private Equity Asia Group.

The fair-trade regulator also approved BPEA's founder Jean Eric Salata Rothleder acquiring up to 9.9 per cent of the equity stakeholding of EQT.

In a tweet on Thursday, CCI said it approved, ''acquisition of BPEA Group by EQT AB and acquisition of certain equity shareholding of EQT AB by Mr Jean Eric Salata Rothleder (BPEA Founder)''.

EQT group, which comprises EQT and its direct and indirect subsidiaries, is a purpose-driven global investment organisation, while BPEA Group is a leading private markets investment firm in Asia.

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