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.
Related News Articles
India's Affordable Housing Demand to Surge to 312 Lakh Units by 2030: CII-Knight Frank Report
The cumulative demand for affordable housing in India is projected to reach 312 lakh units by 2030, with a potential market size of ₹67 trillion. The report by Confederation of Indian Industry (CII) and Knight Frank highlights the existing shortage and th
M3M Group Achieves Major Milestone: Clears ₹2,473 Crore Debt on the Back of Strong Sales
In a significant development for the NCR real estate market, M3M Group has cleared a massive ₹2,473 crore debt, bringing its outstanding debt down to ₹1,302 crore. This achievement is a testament to the company's robust sales performance and its ability t
MahaRERA Conciliation Forum: Legality Upheld Amidst Controversy
Mumbai Grahak Panchayat supports MahaRERA Conciliation Forum, citing Section 32 of RERA 2016. FPCE raises concerns over forum's legality, seeking Ministry of Housing and Urban Affairs' intervention.
DRA Homes Sets Rs 1000 Crore Revenue Target and Signs Rashmika Mandanna
DRA Homes, a leading real estate developer, has set a target of Rs 1,000 crore revenue by FY2026-27 and is expanding its presence in Pune and Bengaluru. The company has also roped in Rashmika Mandanna as its national brand ambassador.
India's Real Estate Sector Surpasses China with 36 Billion-Dollar Companies
India's thriving real estate market has taken the lead, boasting 36 homegrown companies valued at $1 billion or more, surpassing China's 30 companies.
Godrej Properties Achieves Milestone with Rs 1,000 Crore Sales in Pune's Godrej Evergreen Square
Godrej Properties successfully sold homes worth Rs 1,000 crore in its new project, Godrej Evergreen Square, located in Hinjewadi, Pune. Launched in November 2024, the project has set a new record for the company in terms of sales volume and value.