Firms/companies > T > Tata Communications
CCI clears private fund investments in Tata Communications, API Holdings
26 February 2021
The Competition Commission of India (CCI) has approved the acquisition of Tata Communications Limited (TCL) by buy-out fund Panatone Finvest Limited, CCI also .approved the acquisition of equity shareholding in API Holdings Private Limited by another buy-out fund CDPQ Private Equity Asia Pte Ltd.
The proposed combination envisages acquisition of shareholding not exceeding 26.12 per cent by Panatone Finvest in Tata Communications Subsequently, Tata Group would also increase its shareholding in Tata Communications from 48.87 per cent to a maximum 74.99 per cent.
Panatone Finvest is a systemically important non-deposit taking core investment company registered with the Reserved Bank of India and is a subsidiary of Tata Sons and belongs to the Tata Group.