The Competition Commission of India (CCI) has approved the divestment of Reliance Jio’s telecom tower assets to Brookfield Infrastructure Partners LP and other investors.

The other investors include British Columbia Investment Management Corporation, GIC Infra Holdings Pte Limited’s subsidiaries Anahera Investment Pte Limited and Valkyrie Investment Pte Limited.

As per CCI, the proposed transaction involves the acquisition of indirect control of Reliance Jio Infratel Private Limited (RJIPL) by Jarvis.

The deal, as per the notice, is subject to receipt of approvals from the Securities and Exchange Board of India (SEBI). Further, Jarvis would execute the “deed of accession” to the trust deed and will be one of the sponsors to the Infrastructure Investment Trust (InvIT) in addition to Reliance Industrial Investments and Holdings Limited (RIIHL).

Besides, Jarvis would subscribe to the majority of the units to be issued by the InvIT.