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CCI approves acquisition of 100% equity in Virtusa by Austin HoldCo, GIC Investor and CPPIB Investor
21 January 2021
The Competition Commission of India (CCI) approves the proposed acquisition of 100 er cent equity interest and joint control in information technology services provider Virtusa Corporation by Austin HoldCo, GIC Investor and CPPIB Investor.
The proposed combination relates to the acquisition of 100 per cent equity interest and joint control in Virtusa by Baring Private Equity Asia (BPEA) through Austin HoldCo, Atago Investment Pte Ltd (GIC Investor) and CPP Investment Board Private Holdings (4) Inc (CPPIB Investor).
Austin HoldCo is a company incorporated in Delaware, which was not engaged in any business activity so far. BPEA is an international private equity firm with a focus on private equity investments in Asia.
CCI approves joint control in Virtusa Corp by Austin HoldCo ANI | Updated: Jan 12, 2021 12:20 IST
The proposed combination relates to acquisition in Virtusa Corporation by Baring Private Equity Asia (BPEA) through Austin HoldCo, Atago Investment Pte Ltd (GIC Investor) and CPP Investment Board Private Holdings (4) Inc (CPPIB Investor).
Austin HoldCo is a company incorporated in Delaware in the United States. It is presently not engaged in any business activity. BPEA is an international private equity firm with a focus on private equity investments in Asia.
GIC Investor is wholly-owned by Apstar Investment Pte Ltd, which in turn is wholly-owned by GIC Ventures Pvt Ltd. 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 Pvt Ltd.