Brookfield Acquires ATC Telecom: CCI Approves Deal
Aug 06, 2024 21:22
Competition Commission of India approves Brookfield's acquisition of ATC Telecom Infrastructure, a major deal announced earlier this year. CCI also cleared other transactions.
Photograph: Dado Ruvic/Reuters
New Delhi, Aug 6 (PTI) Competition Commission has cleared Canadian firm Brookfield's proposed acquisition of ATC Telecom Infrastructure.
The mega deal was announced in January this year.
In a post on X, the regulator on Tuesday said it has approved the "proposed acquisition of 100% of the share capital of ATC Telecom Infrastructure Private Limited by Data Infrastructure Trust and certain inter-connected transactions".
Data Infrastructure Trust (DIT) is an infrastructure investment trust sponsored by an affiliate of Brookfield Asset Management.
Besides, Competition Commission of India (CCI) has given the nod for three other deals, including the purchase of 12 special purpose vehicles of PNC Infratech Ltd and PNC Infra Holdings by Highway Infrastructure Trust, according to separate posts on X.
The regulator has also cleared the restructuring of the existing business of Re Sustainability Ltd, its subsidiaries and joint ventures through demerger of the municipal solid waste business and waste to energy business to Ramky Sustainability Solutions Pvt Ltd.
The acquisition by 360 ONE Private Equity Fund in Vastu Housing Finance Corporation Ltd has also received the green signal from the regulator.
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