TIGA Investments gets CCI's clearance to acquire stake in Dream11
Competition Commission of India (CCI) has granted nod to Singapore-based TIGA Investments' proposal to acquire a stake in Dream11's parent company Dream Sports Inc. The deal was cleared by CCI under the green channel route.
The transaction pertains to the purchase by Tiga Acquisition Corp III (Tiga) of certain preferred stock of Dream Sports Inc (DSI), along with certain rights, from an existing shareholder of DSI, the regulator said in a notice on September 23.
However, the fair trade regulator CCI did not reveal the name of the existing shareholder.
The US-based Dream Sports conducts its operations through its subsidiary in India, Sporta Technologies Pvt Ltd. DSI, a sports tech company, owns a portfolio of leading brands like Dream11 and FanCode.
Sporta is primarily involved in the provision of online gaming and allied digital engagement services in India.
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