Laws and sections by number or title, due dates, pages, and updates.
Valkyrie Investment Pte. Ltd. and Anahera Investment Pte. Ltd. file a notice for a proposed combination under the green channel route. The acquirers propose to acquire additional unitholding in Data Infrastructure Trust, rights in BIP India Infra Projects Management Services Private Limited, and preference shares and certain rights in BIF IV Jarvis IM HoldCo Pte. Ltd. The transaction raises no horizontal, vertical, or complementary overlaps between the activities of the GIC Group entities and the targets in India.
What you must do
Who is affected
Ask about this competition order
SUMMARY OF THE PROPOSED COMBINATION
Summary in terms of Regulations 13 (1A) of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations), 2011 (as amended)
A. Name of the parties to the combination
(Valkyrie and Anahera are collectively referred to as "Acquirers"; DIT, Jarvis IM HoldCo and BIP India Infra are collectively referred to as "Targets". The Acquirers and the Targets are collectively referred to as the "Parties").
B. The nature and purpose of the combination
Nature of the Proposed Transaction
(Paragraph 2(i)-(ii) collectively referred to as "Proposed Transaction").
C. The products, services, and business(es) of the Parties to the combination
(a) Acquirers: The Acquirers are wholly-owned subsidiaries of GIC Infra Holdings Pte. Ltd. which, in turn, is a wholly-owned subsidiary of GIC (Ventures) Pte. Ltd. They are special purpose vehicles organized as private limited companies in Singapore, and are part of the "GIC Group", i.e., a group of investment holding companies managed by GIC Special Investments Private Limited.
(b) Targets:
i. DIT: DIT is an InvIT registered under the SEBI InvIT Regulations, which is engaged in the business of providing passive telecom infrastructure services in India.
ii. Jarvis IM HoldCo: Jarvis IM HoldCo is a newly incorporated entity based out of Singapore, which has been recently incorporated solely for the purpose of simplifying the governance structure of DIT.
iii. BIP India Infra: BIP India Infra has been recently appointed as the investment manager for DIT. It will primarily manage the operations and investments of DIT.
D. Respective markets in which the parties to the combination operate
Pursuant to the Proposed Transaction, no horizontal, vertical and complementary overlaps arise between the activities of the GIC Group entities and the Targets in India. Accordingly, absent any horizontal, vertical or complementary overlaps between the GIC Group entities and the Targets, in India, the Proposed Transaction does not raise any risk of an appreciable adverse effect on competition in the plausible relevant market(s) in India, as detailed in the merger notification.
Therefore, the Proposed Transaction is being notified under the green channel route in terms of Regulation 5A and Schedule III of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 (as amended).
