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India – CCI Approves Merger Of Pune Infroport Pvt. Ltd. Into Indian Express.

13 January, 2015

On December 5, 2014, CCI approved the proposed merger of Pune Infoport Private Limited (‘Infoport’) into Indian Express Newspaper (Mumbai) Private Limited (‘Indian Express’) collectively the (‘Parties’) by way of scheme of amalgamation under Companies Act, 2013.
Indian Express is an Indian company engaged in the business of leasing commercial and office spaces at Express Towers located at Nariman Point, Mumbai. Pune Infroport, an Indian subsidiary under the joint control of Panchshil Techpark Private Limited (‘PTPL’) and Blackstone Group L.P. (‘Blackstone’), holds 97.322% of equity share capital of Indian Express. PTPL is also under joint control of Premsagar Infra Realty Private Limited (‘Premsagar India’).


PTPL is engaged in the business of providing developing and leasing of commercial and office spaces in IT Parks in Pune. Pune Infroport provides facility management services to PTPL in relation to the operation and maintenance of the latter’s technology parks, special economic zones and other infrastructure projects in Pune.


Pune Infrotech and Indian Express, both, are under the joint control of Premsagar India and Blackstone. After merger, only Indian Express would remain in existence. CCI was of the view that the proposed combination does not give rise to any AAEC in India and therefore, CCI approved the combination.

 

AZB

 

For further information, please contact:

 

Zia Mody, AZB & Partners
zia.mody@azbpartners.com

 

Abhijit Joshi, AZB & Partners 
abhijit.joshi@azbpartners.com

Shuva Mandal, AZB & Partners 
shuva.mandal@azbpartners.com

 

Samir Gandhi, AZB & Partners
samir.gandhi@azbpartners.com

Percy Billimoria, AZB & Partners 
percy.billimoria@azbpartners.com

 

Aditya Bhat, AZB & Partners 
aditya.bhat@azbpartners.com

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