CCI Approves Acquisition of WeWork India by Real Trustee and Embassy Buildcon
The Competition Commission of India (CCI) has approved the acquisition of certain share capital of WeWork India by Real Trustee and Embassy Buildcon, marking a significant development in the Indian real estate market.
Competition Commission Of IndiaReal EstateAcquisitionWe Work IndiaEmbassy BuildconReal EstateJun 18, 2024
Real Trustee is the trustee of Volrado Ventures, which are alternative investment funds (AIFs) registered with the Securities and Exchange Board of India (SEBI). Embassy Buildcon, a limited liability partnership organized and registered in India, is engaged in the business of real estate development of residential and commercial assets and other related activities. WeWork India, a private limited company registered in India, is engaged in the operation of flexible workspaces and operation of digital real estate workplace solutions for companies. OAW holds the shares of WeWork India on behalf of WeWork International.
Information
The Competition Commission of India (CCI) is a statutory body established under the Competition Act, 2002, responsible for enforcing the Act and promoting competition in the Indian market. Real Trustee Advisory Company Private Limited is a trustee company registered with SEBI, and Embassy Buildcon LLP is a limited liability partnership registered in India, engaged in real estate development. WeWork India Management Private Limited is a private limited company registered in India, operating in the flexible workspace and digital real estate solutions market.
The Competition Commission of India (CCI) is a statutory body established under the Competition Act, 2002, responsible for enforcing the Act and promoting competition in the Indian market. Embassy Buildcon LLP is a limited liability partnership registered in India, engaged in real estate development. WeWork India Management Private Limited is a private limited company registered in India, operating in the flexible workspace and digital real estate solutions market.
Frequently Asked Questions
What is the purpose of the Competition Commission of India?
The Competition Commission of India (CCI) is responsible for enforcing the Competition Act, 2002, and promoting competition in the Indian market.
What is Real Trustee Advisory Company Private Limited?
Real Trustee Advisory Company Private Limited is a trustee company registered with the Securities and Exchange Board of India (SEBI).
What is Embassy Buildcon LLP engaged in?
Embassy Buildcon LLP is a limited liability partnership registered in India, engaged in real estate development of residential and commercial assets and other related activities.
What is WeWork India Management Private Limited engaged in?
WeWork India Management Private Limited is a private limited company registered in India, operating in the flexible workspace and digital real estate solutions market.
What is the significance of the CCI's approval for the acquisition of WeWork India?
The CCI's approval marks a significant development in the Indian real estate market, as it allows for the acquisition of WeWork India by Real Trustee and Embassy Buildcon, promoting competition and growth in the sector.
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