CCI Clears Knowledge Realty REIT's Acquisition of Blackstone, Sattva Units

15 May 2025 CW Team

The Competition Commission of India has approved the acquisition by Knowledge Realty Trust of various entities linked to the Blackstone Group and/or Sattva Group.

The proposed transaction involves the direct and indirect acquisition by Knowledge Realty Trust—acting through its manager, Knowledge Realty Office Management Services Private Limited (formerly Trinity Office Management Services Private Limited)—of a number of target entities. These include companies solely owned by Blackstone, others by Sattva, and some jointly held by both groups. In exchange for this acquisition, the existing shareholders of the target entities will receive units in the acquiring REIT.

The acquiring REIT has been established as a contributory, determinate, and irrevocable trust under the Indian Trusts Act, 1882, via a trust deed dated 10 October 2024. Its purpose is to own and operate a portfolio of rent-yielding or income-generating real estate and related assets, in line with the SEBI (Real Estate Investment Trusts) Regulations, 2014. The REIT was registered with SEBI on 18 October 2024.

The target entities are active in India’s commercial real estate and renewable energy sectors.

A detailed order from the Commission is expected to follow.

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