CCI approves the repurchase of 71.25% of the stake of the entity Blackstone Group in ASK Investment

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The Indian Competition Commission (ICC) on Monday gave the green light for the acquisition of more than 71% of the capital of ASK Investment Managers by an entity of the Blackstone group.

The proposed merger contemplates the acquisition of 71.25 percent of the shares of ASK Investment Managers by BCP TopCo XII Pte Ltd, according to a merger notice filed with the regulator.

The acquirer is an affiliate of funds advised or managed by affiliates of The Blackstone Group Inc.

ASK Investment Managers is an asset and wealth management company, the opinion says.

“The proposed combination does not have an appreciable negative effect on competition in any market in India,” he added.

“The Commission approves the acquisition of 71.25% of the shares of ASK Investment Managers by BCP TopCo (Blackstone Group)”, according to a tweet from the regulator.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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