The Competition Commission of India (CCI) has approved the sale of Bharti Airtel’s 25 per cent stake in its data centre unit Nxtra Data Limited to the Carlyle group for $235 million.

The post-money enterprise valuation of Nxtra is approximately $ 1.2 billion and Carlyle will hold a stake of approximately 25 per cent in the business upon completion of the transaction. Airtel will continue to hold the remaining stake of approximately 75 per cent.

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.