CCI approves acquisition of commercial assets by Nexus Select Trust

Competition Commission of India approved the acquisition of commercial real estate assets by Nexus Select Trust. Nexus Select Trust is a Sebi-registered real estate investment trust (acquirer REIT) and is backed by global investment firm Blackstone. The proposed transaction involves the direct acquisition of 100 per cent shareholding of 15 entities and indirect acquisition of 100 per cent shareholding of two entities acting through acquirer REIT's manager - Select Infrastructure and Nexus South Mall Management, according to an official release. It also cleared the direct acquisition of 50 per cent equity shares of ITIPL from its existing shareholders by the acquirer REIT (acting through its manager), the release said. The entities are primarily engaged in the commercial real estate sector in India. Also Read Parliamentary panel wants Centre to raise funds for PMAY-Rural Technical bids for 21-km tunnel for Mumbai-Ahmedabad bullet train