CCI Clears CPP Investment Board's Acquisition Of Stake In Prestige Hospitality Ventures

The Competition Commission of India on Tuesday approved the proposed acquisition of certain shareholding in Prestige Hospitality Ventures Limited by CPP Investment Board Private Holdings (4) Inc.

CPP Investment is a company incorporated in Canada and is managed by the Canada Pension Plan Investment Board (CPPIB). CPPIB manages the Canada Pension Plan Fund and invests across various asset classes globally, including public and private equities, real estate, infrastructure, fixed income and alternative strategies.

Prestige Hospitality is an Indian public limited company forming part of the Prestige Group. The company is engaged primarily in owning and developing hospitality properties across India, covering luxury, upper upscale, upscale and upper midscale segments.

The Commission stated that a detailed order would be issued.