Tata Sons seeks CCI clearance to acquire additional 10 pc stake in Tata Play
Tata Play from Singapore's sovereign wealth fund Temasek Holdings. Currently, Tata Sons owns a 60 per cent stake in Tata Play. After the completion of the deal, Tata Sons will have a 70 per cent holding in the entertainment content distribution platform.
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Tata Sons Pvt Ltd is an investment holding company, which is registered as a core investment company with the Reserve Bank of India and classified as a «Systemically Important Non-Deposit Taking Core Investment Company».
«The proposed transaction relates to Tata Sons' acquisition of 10 per cent shareholding in Tata Play from Baytree Investments (Mauritius) Pte Ltd,» said a notice filed with the Competition Commission of India (CCI) on Thursday.
Baytree Investments (Mauritius) is an affiliate of Singapore's sovereign wealth fund Temasek Holdings.
The proposed transaction is being notified to the Commission under Section 6(2) and Section 5(a) of the Competition Act, 2002, Tata Sons said.
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