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Commission approves the acquisition of shareholding of Tower Vision India Private Limited by Ascend Telecom Infrastructure Private Limited and GIP EM Ascend 2 Pte. Ltd.


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07 May 2023
Categories: Latest News

The proposed combination pertains to acquisition Ascend Telecom Infrastructure Private Limited (Ascend) and GIP EM Ascend 2 Pte. Ltd. (GIP EM) (collectively, Acquirers) of 100 percent of the shareholding of Tower Vision India Private Limited (Target) (Proposed Combination). Acquirers The Acquirers are entirely owned by funds/investment vehicles managed by entities that are ultimately controlled by Global Infrastructure Management LLC (GIM LLC).

Ascend is engaged in providing passive telecommunication infrastructure services through towers in India while GIP EM is presently not engaged in any business operations.

Target The Target is controlled by Tower Vision Mauritius Limited and is engaged in the provision of passive telecommunication infrastructure services through towers in India. Detailed order of the Commission will follow.

Source



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