Source: Press Information Bureau (PIB), Government of India — Competition Commission of India · PIB Delhi · Read the original release on pib.gov.in
The Competition Commission of India (CCI) has approved the acquisition of certain stake in Prestige Hospitality Ventures Limited by CPP Investment Board Private Holdings(4) Inc.
Under the proposed combination, CPP Investment Board Private Holdings(4) Inc. (Acquirer) to acquire certain shares in Prestige Hospitality Ventures Limited (Target Company).
The acquirer is a company registered in Canada and managed by the Canada Pension Plan Investment Board (CPPIB), a professional investment management organization that manages Canada Pension Plan funds. With the aim of building a diversified portfolio of assets, the organization invests in public equity, private equity, real estate, infrastructure, fixed income assets and alternative investment strategies across the globe, including through partnerships with funds.
‘The Target’ is a public limited company incorporated in India and is part of the Prestige Group. The company is primarily engaged in the ownership and development of luxury, upper upscale, upscale and upper midscale hospitality assets in India, including on-going, under-construction and upcoming hotels and serviced apartments for business and leisure travelers.
This is the official press release issued by the Press Information Bureau (PIB), and is published without changes.
