The regulator of fair trade, CCI, has approved the planned equity acquisition of WeWork India Management by Real Trustee Advisory Company. "In its capacity as trustee for Volrado Venture Partners Fund II (Volrado II), Real Trustee Advisory Company (Real Trustee) has approved the acquisition of certain share capital of WeWork India Management (WeWork India), Volrado Venture Partners Fund III-Beta (Volrado III) and other independent co-acquirers, and 100% share capital of 1 Ariel Way Tenant Limited (OAW) by Embassy Buildcon LLP," the CCI said in a release.
The planned transaction has been authorised, according to the Competition Commission of India (CCI). The company, Embassy Buildcon, is involved in the development of residential and commercial real estate as well as other associated operations.
WeWorkIndia provides workplace solutions for businesses in the form of digital real estate and flexible workplaces. On behalf of WeWork International, OAW is the owner of shares in WeWork India. Deals that are over a specific level need regulatory permission, which monitors unscrupulous corporate activities and fosters equitable competition in the market.
