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Home STOCKS bharti airtel: Airtel to provide all over 25% in Nxtra to Carlyle

bharti airtel: Airtel to provide all over 25% in Nxtra to Carlyle

Bharti Airtel Wednesday said it has signed a pact to market a about 25% stake in its facts centre unit Nxtra Information Ltd. for $235 million.
“The submit-dollars company valuation of Nxtra is approximately USD 1.2 billion and Carlyle will keep a stake of somewhere around 25% in the business enterprise upon completion of the transaction, with Airtel continuing to maintain the remaining stake of somewhere around 75%,” the two businesses claimed in a joint assertion.
The transaction is issue to the vital regulatory approvals, including approval from the Levels of competition Commission of India.
The stake will be purchased by Consolation Investments II, an affiliated entity of CAP V Mauritius Confined, an investment fund managed and recommended by affiliated entities of The Carlyle Team.
ET experienced reported about the stake sale in its July 1 version.

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