CCI approves acquisition of Aseem Infrastructure Finance Limited by TPG Nicobar SG Pte. Ltd. and related transactions
CCI approved a multi-step acquisition and reorganisation involving Aseem Infrastructure Finance Limited, TPG Nicobar SG Pte. Ltd., ICICI Bank, and NIIF II.
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What happened: CCI approval for Aseem Infrastructure Finance Limited restructuring
The Competition Commission of India (CCI) approved the acquisition of Aseem Infrastructure Finance Limited by TPG Nicobar SG Pte. Ltd. along with related transactions and a post-closing merger plan. The CCI approval covers a bundle of connected steps involving share acquisitions, divestment of an equity stake, and a merger that changes legal ownership and corporate structure.
Under the approved Proposed Combination, the transaction package has three components:
1) Aseem Acquisition
- TPG Nicobar SG Pte. Ltd. acquires 100% of the share capital of Aseem Infrastructure Finance Limited.
- After that acquisition, ICICI Bank Limited acquires an additional 5% share capital of Aseem from Nicobar.
