New Delhi: Fair trade regulator CCI on Tuesday said it has approved the proposed stake acquisition of WeWork India Management by Real Trustee Advisory Company.
"CCI has approved the acquisition of certain share capital of WeWork India Management (WeWork India) by Real Trustee Advisory Company (Real Trustee) (in its capacity as trustee of Volrado Venture Partners Fund II (Volrado II).
"...100 per cent share capital of 1 Aerial Way Tenant Limited (OAW) by Volrado Venture Partners Fund III – Beta (Volrado III) and other independent co-acquirers, and Embassy Buildcon LLP," CCI said in a release.
The Competition Commission of India (CCI) said it has approved the proposed deal.
Embassy Buildcon is engaged in the business of real estate development of residential and commercial properties and other related activities.
WeWorkIndia deals in flexible workplaces and digital real estate workplace solutions for companies.
OAW holds shares in WeWork India on behalf of WeWork International.
Deals exceeding a certain limit require approval from the regulator, which keeps an eye on unfair business practices as well as promotes fair competition in the market.
"CCI has approved the acquisition of certain share capital of WeWork India Management (WeWork India) by Real Trustee Advisory Company (Real Trustee) (in its capacity as trustee of Volrado Venture Partners Fund II (Volrado II).
"...100 per cent share capital of 1 Aerial Way Tenant Limited (OAW) by Volrado Venture Partners Fund III – Beta (Volrado III) and other independent co-acquirers, and Embassy Buildcon LLP," CCI said in a release.
The Competition Commission of India (CCI) said it has approved the proposed deal.
Embassy Buildcon is engaged in the business of real estate development of residential and commercial properties and other related activities.
WeWorkIndia deals in flexible workplaces and digital real estate workplace solutions for companies.
OAW holds shares in WeWork India on behalf of WeWork International.
Deals exceeding a certain limit require approval from the regulator, which keeps an eye on unfair business practices as well as promotes fair competition in the market.