The Competition Commission of India (CCI) approves acquisition of certain real estate projects of RMZ Group and 100% equity shareholding in CoWrks by Brookfield Private Capital (DIFC) Limited, under Section 31(1) of the Competition Act, 2002.

The acquiring entity will be a newly formed company belonging to Brookfield Private Capital (DIFC) Limited.

The real estate projects to be acquired relate to the business of leasing commercial real estate. These projects are housed under RMZ Infotech Private Limited, RMZ Galleria (India) Private Limited, RMZ North Star Projects Private Limited, RMZ Ecoworld Infrastructure Private Limited and RMZ Azure Projects Private Limited.

CoWrks is engaged in the business of providing desks / seats as co-working spaces.

Detailed order of the CCIwill follow.

Merger control approval for acquisition of RMZ real estate projects and CoWrks equity by Brookfield enables asset consolidation. Approval under Section 31(1) of the Competition Act, 2002 was granted for a transaction where a newly formed Brookfield Private Capital (DIFC) Limited group company will acquire specified commercial real estate projects from several RMZ Group subsidiaries and 100% equity in CoWrks, covering leasing assets and co working operations; a detailed CCI order will follow.