The Competition Commission of India (CCI) has cleared Baring Private Equity Asia's 30 percent stake purchase in NIIT Technologies in a Rs 2,627-crore deal. The acquisition will trigger an open offer under which Baring Private Equity Asia (BPEA) will make an offer to public shareholders of NIIT Technologies for purchasing up to 26 per cent additional shareholding, taking the total deal value to up to Rs 4,890 crore.
NIIT Technologies is a leading global IT solutions organization servicing customers across the Americas, Europe, Asia, and Australia. NIIT Technologies services clients in travel and transportation, banking and inanely, services, insurance.
