US-based Carlyle Group has entered into an agreement to buy a 25 per cent stake in Bharti Airtel’s data center arm Nxtra Data Limited for $235 million.
The acquisition, by an affiliate of Carlyle, will give Airtel’s Nxtra an enterprise valuation of about $1.2 billion. Further, Airtel will continue to hold the remaining 75 per cent stake in Nxtra.
The stake will be bought by Comfort Investments II, an affiliated entity of CAP V Mauritius Limited, an investment fund managed and advised by affiliated entities of the Carlyle Group.
However, the transaction is subject to necessary regulatory approvals, which includes approval from the Competition Commission of India (CCI).
Picture Credits: BloombergQuint