CCI approves transfer of ATC India shares to Data Infrastructure Trust

Competition Commission of India (CCI) has approved the proposed acquisition of the entire share capital of ATC Telecom Infrastructure Private Limited (ATC India) by Data Infrastructure Trust (DIT), as also some transactions connected with the transfer.

Both ATC and DIT are indirect subsidiaries of American Telecom International Inc and are engaged in providing passive telecom infrastructure services in India.

DIT has been registered as an infrastructure investment trust under the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014. 

DIT provides telecom infrastructure services through its special purpose vehicles.

CCI also on Wednesday approved the acquisition of Vastu Housing Finance Corporation Limited by 360 ONE Private Equity Fund.

360 ONE Private Equity Fund is a Category II Alternative Investment Fund set up for investing within and outside the country.

360 ONE Alternate Asset Management Limited (360 AAML) is the investment Manager of 360 Fund and is ultimately controlled by 360 ONE WAM Limited.

Vastu Housing Finance Corporation Limited is engaged in the business of providing home loans, home extension loans, loans for buying land, construction loan, loans against property and micro/MSME loans.

Vastu Finserve India Private Limited, a wholly owned subsidiary of VHFCL, provides financial services like provision of loans and credit/advance money with or without security to any individual, firm, body corporate or any other entity. 

Further, CCI approved acquisition of 100 per cent equity and management control in 12 special purpose vehicles of PNC Infratech Limited and PNC Infra Holdings by Highway Infrastructure Trust.