The Competition Commission of India approved the acquisition of certain stake in Bagmane Developers Private Limited and Bagmane Rio Private Limited (collectively, Target Entities) by BREP Asia III India Holding Co VIII Pte. Ltd. (Acquirer). The Proposed Combination involves the acquisition of certain stake in the Target Entities by the Acquirer.

Acquirer is an affiliate of funds advised or managed by affiliates of Blackstone Inc. The principal activity of the Acquirer is that of investment holding and related activities. However, at present, it does not have any business operations.

Target Entities are engaged in the business of development, leasing and operation of commercial real estate, hospitality business as well as allied services such as generation of renewable power.

Detailed order of the Commission will follow.

Merger control approval granted for a private equity acquisition of stakes in commercial real estate and hospitality entities. The Competition Commission approved the acquisition of certain equity stakes in Bagmane Developers Private Limited and Bagmane Rio Private Limited by BREP Asia III India Holding Co VIII Pte. Ltd., an investment-holding affiliate of funds advised or managed by affiliates of Blackstone Inc.; the Target Entities are active in development, leasing and operation of commercial real estate, hospitality and allied services including renewable power generation, and a detailed order will follow.