CCI Clears OMERS' Strategic Stake Expansion in Interise Trust
The Competition Commission of India has approved OMERS Administration Corp’s proposal to increase its unit-holding in Interise Trust. The transaction, involving no competition risks, was passed under the green channel route. OMERS' stake in Interise will rise to 34.8% following the acquisition from Allianz Capital Partners.
- Country:
- India
The Competition Commission of India (CCI) has given the green light to OMERS Administration Corp's proposal to acquire additional unit-holding in Interise Trust, further solidifying its presence in the Indian infrastructure sector.
Alongside the OMERS Administration Corp deal, CCI has also approved the transactions involving Ontario Inc and OMERS Infrastructure's increased holdings in Interise Investment Managers Ltd (IIML). The regulatory body detailed these developments in a notice, confirming there are no competition concerns, allowing the transaction to proceed through the green channel.
OMERS Administration Corporation, known for managing the Ontario Municipal Employees Retirement System Primary Pension Plan, has been invested in Interise since 2019. Following an agreement to buy Allianz Capital Partners' 13.5% stake, OMERS will bolster its position within Interise Trust to 34.8% from the existing 21.3%, affirming its long-term strategy in India's road infrastructure investments.
(With inputs from agencies.)
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