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Pipeline Infrastructure-India Infrastructure Trust deal gets CCI nod

Press Trust of India  |  New Delhi 

The has approved acquisition of Industries Holding's subsidiary by India Infrastructure Trust, according to a communication.

The Trust is proposed to be registered as an infrastructure investment trust (InvIT).

"@CCI_India approves acquisition of Private Limited by India Infrastructure Trust," the regulator said in a tweet Tuesday.

The transaction entails the complete acquisition of by the Trust. The purchase is to be done through the Trust's proposed sponsor 2 Pte Ltd and PenBrook Capital Advisors Pvt Ltd.

A special purpose vehicle, Rapid is an affiliate of while PenBrook is an asset management company, as per the notice submitted to the of India (CCI).

Rapid has made an application to the (Sebi) for the Trust to be registered as an InvIT. Under the application, Rapid has sought the regulator's permission for use of the name 'India Infrastructure Trust' for the proposed InvIT.

Subject to receipt of Sebi's approval, the name 'India Infrastructure Trust' might get modified to reflect the regulator's suggestions or directions, the notice said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, September 11 2018. 21:20 IST