CCI Approves Stake Acquisition in Prestige Hospitality Ventures by CPP Investment Board
The Competition Commission of India has granted approval for Canada's CPP Investment Board Private Holdings (4) Inc. to acquire a stake in Prestige Hospitality Ventures Limited.
The Competition Commission of India (CCI) has approved the proposal for the acquisition of a stake in Prestige Hospitality Ventures Limited by CPP Investment Board Private Holdings (4) Inc., a company registered in Canada.
Under this proposed combination, the acquirer, CPP Investment Board Private Holdings (4) Inc., will purchase a stake in the target company, Prestige Hospitality Ventures Limited. The acquiring company is managed by the Canada Pension Plan Investment Board (CPPIB). CPPIB is a professional investment management organization that manages the Canada Pension Plan Fund, investing globally across public equities, private equity, real estate, infrastructure, and other alternative investment strategies.
Prestige Hospitality Ventures Limited is a public limited company incorporated in India and is part of the Prestige Group. The company primarily focuses on the ownership and development of luxury, upper upscale, upscale, and upper midscale hospitality assets in India. Its portfolio includes hotels and serviced apartments that are currently operational, under construction, or planned for the future to cater to business and leisure travelers.
