CCI Approves Strategic Acquisitions by Blackstone and Jsquare Electrical Steel

The Competition Commission of India (CCI) approved Blackstone's acquisition of stakes in Bagmane Developers and Bagmane Rio. Blackstone leads in alternative assets worldwide. CCI also cleared Jsquare Electrical Steel's acquisition of thyssenkrupp India, enhancing future GOES manufacturing capabilities. Additionally, it sanctioned VVDN Technologies' stake purchase in India Business Excellence Fund - IV.

The Competition Commission of India (CCI) has given the green light to Blackstone's arm, BREP Asia III India Holding, for acquiring stakes in Bagmane Developers and Bagmane Rio, enhancing their footprint in commercial real estate.

Simultaneously, CCI approved Jsquare Electrical Steel Nashik's proposed acquisition of thyssenkrupp Electrical Steel India, a strategic move poised to bolster future manufacturing and sales of grain-oriented electrical steel in India.

Furthermore, CCI sanctioned VVDN Technologies' acquisition of equity stakes in India Business Excellence Fund - IV, an alternative investment fund, via a mix of secondary share purchases and compulsorily convertible debentures.

(With inputs from agencies.)