The Competition Commission of India (CCI) has approved proposed acquisition of certain unit holding in National Highways Infra Trust by Nitro Asia Holdings II Pte. Ltd.

The proposed combination envisages the acquisition of certain unitholding of the Target by the Acquirer through on-market transactions on a registered stock exchange.

Nitro Asia Holdings II Pte. Ltd. is a special purpose vehicle incorporated in Singapore whose principal business activities include holding ownership of equity and non- equity assets, including shares, debentures, bonds, and other forms of security, real property and other tangible and intangible assets.

National Highways Infra Trust is an infrastructure investment trust registered with the Securities and Exchange Board of India under the SEBI (Infrastructure Investment Trusts) Regulations, 2014 (as amended).

The investment objectives of the trust are to carry on the activities of, and to make investments, as an infrastructure investment trust, as permissible in terms of the applicable law. This includes investments in SPVs in India, as allowed under the InvIT Regulations.

Detailed order of the Commission will follow.

Nitro Asia to acquire units in National Highways Infra Trust; CCI approval for on-market unitholding acquisition. The Competition Commission of India approved Nitro Asia Holdings II Pte. Ltd.'s proposed acquisition of certain unit holdings in National Highways Infra Trust via on-market transactions. Nitro Asia is a Singapore-incorporated special purpose vehicle whose principal activity is holding equity and non-equity assets. National Highways Infra Trust is an infrastructure investment trust registered under the InvIT regulatory framework and may invest in SPVs in India as permitted.