Archive · 11 Jun 2025
Blackstone Affiliate Gets CCI Approval for Kolte-Patil Stake
The Competition Commission of India (CCI) has given the green light for a major business move.
A company connected to Blackstone, a large investment firm, is now allowed to buy a big part of Kolte-Patil Developers, a real estate company.
This involves buying shares in two ways: by subscribing to new shares and by purchasing existing ones.
This deal is worth about Rs 1,150 crore.
Kolte-Patil's shares went up over 3% after this news.
The CCI checks these deals to make sure everything stays fair and doesn't create monopolies.
CCI approved Blackstone's plan to acquire a 40% stake in Kolte-Patil Developers.
Kolte-Patil Developers' shares increased by over 3% after the approval.
The acquisition will be done through a combination of share subscription and share purchase.
Blackstone, via its affiliate, will buy a stake in Kolte-Patil Developers.
The deal includes acquiring shares via an open offer.
- Who
- BREP Asia III India Holding Co VII and Kolte-Patil Developers Limited
- What
- CCI approved BREP Asia III India Holding Co VII's acquisition of a 40% stake in Kolte-Patil Developers.
- When
- March 2025, Blackstone announced the deal.
- Where
- India
- Why
- The CCI approves acquisitions to ensure fair competition in the market.
- Acquirer
- BREP Asia III India Holding Co VII Pte Ltd
- Target
- Kolte-Patil Developers Limited
- Acquirer Affiliation
- Blackstone Inc.
- Stake Acquisition
- 40%
- Transaction Type
- Share subscription and share purchase
- Deal Value
- Rs 1,150 crore
- Share Price Increase
- 3.21%
