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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.