SUMMARY UNDER REGULATION 13(2) OF THE COMPETITION COMMISSION OF INDIA (COMBINATIONS) REGULATIONS, 2024 (a) Names of the parties to the combination 1. The parties to the combination are – (i) Alpha Wave Ventures II, LP (AWV II / Acquirer); and (ii) Nxtra Data Limited (Nxtra / Target). 2. The Acquirer and Target are coll…
SUMMARY UNDER REGULATION 13(2) OF THE COMPETITION COMMISSION OF INDIA (COMBINATIONS) REGULATIONS, 2024
(a) Names of the parties to the combination
The parties to the combination are – (i) Alpha Wave Ventures II, LP (AWV II / Acquirer); and (ii) Nxtra Data Limited (Nxtra / Target).
The Acquirer and Target are collectively referred to as the Parties.
(b) Nature and purpose of the combination
The Proposed Transaction pertains to the acquisition of certain shareholding in the Target by the Acquirer by way of a primary subscription of equity shares of the Target (Proposed Transaction).
The Proposed Transaction represents an investment opportunity for the Acquirer to generate financial gains. The Target seeks to raise capital to fund its business operations.
(c) Products, services and business(es) of the parties to the combination
Acquirer
The Acquirer is a private equity fund managed by Alpha Wave Ventures GP, a joint venture between Alpha Wave Global, and Lunate Holding RSC Ltd.
Target
The Target is engaged in the business of provision of data center colocation services in India.
(d) The respective markets in which the parties to the combination operate
The Parties have defined the following relevant markets on account of limited potential vertical relationships:
However, the Proposed Transaction does not raise any risk of appreciable adverse effect on competition in India.
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