CCI Clears TIGA Investments' Stake Acquisition in Dream Sports

The Competition Commission of India (CCI) has approved Singapore-based TIGA Investments' plan to acquire a stake in Dream11's parent company, Dream Sports Inc. This approval, granted under the green channel route, pertains to the purchase of preferred stock from an existing shareholder. The deal is not expected to affect competition adversely in India.

The Competition Commission of India (CCI) has greenlit Singapore-based TIGA Investments' proposal to stake a claim in Dream Sports Inc., the parent company of Dream11.

The approval came through under the green channel route. The transaction involves Tiga Acquisition Corp III buying certain preferred stock of Dream Sports Inc (DSI) and acquiring certain rights from a current shareholder, whose identity remains undisclosed.

Dream Sports, operating in the U.S. but managed through its Indian subsidiary Sporta Technologies Pvt Ltd, is known for brands like Dream11 and FanCode. Sporta is engaged in online gaming and digital services in India. TIGA Investments focuses on long-term investments in unique businesses with robust management teams and also sponsors the NYSE-listed TIGA Acquisition Corp.

There are no horizontal overlaps or potential vertical linkages in business activities between the parties in India. The CCI concluded that this transaction is unlikely to affect competition in India adversely, thus it proceeds under the green channel route, ensuring a swift nod.

(With inputs from agencies.)