CCI Approves TIGA Investments' Stake Acquisition in Dream11's Parent Company

The Competition Commission of India has approved the acquisition of a stake in Dream11's parent company, Dream Sports Inc., by Singapore-based TIGA Investments. The transaction was cleared via the green channel route, ensuring no adverse competition effects, involving the purchase of preferred stock from an existing shareholder.

The Competition Commission of India (CCI) has granted approval to Singapore-based TIGA Investments for acquiring a stake in Dream11's parent company, Dream Sports Inc.

Cleared under the green channel route, the transaction involves Tiga Acquisition Corp III purchasing certain preferred stock and associated rights from an existing shareholder of Dream Sports Inc. The CCI did not disclose the shareholder's name.

Dream Sports operates through its Indian subsidiary, Sporta Technologies Pvt Ltd, which focuses on online gaming and digital engagement services. TIGA Investments aims to invest in unique businesses with strong management and serves as the sponsor of TIGA Acquisition Corp, listed on the NYSE. The Commission noted the lack of competitive overlap and anticipated no adverse effects on competition from this transaction, thus granting approval under the green channel route.

(With inputs from agencies.)