CCI okays PE Warburg Pincus unit's 24% stake buy in Kalyan Jewellers

Competition Commission of India (CCI) has approved global private equity major Warburg Pincus-invested Highdell's proposed 24 per cent stake purchase in Kalyan Jewellers. Giving its green signal, the fair trade watchdog said the deal is not likely to have an 'appreciable adverse effect on competition in India'.

The shareholders of Mauritius-based Highdell Investment Ltd are private equity funds managed by Warburg Pincus. The deal relates to Highdell acquiring up to 24 per cent stake in Kalyan Jewellers on a fully diluted basis. As per shareholders' agreement, Highdell would also 'acquire certain affirmative and veto rights on certain key business decisions,' according to CCI.


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