Bharti Airtel has entered into a contract with Carlyle to sell 25 per cent stake in Nxtra Data Limited, a data centre unit of Airtel for an investment of $235 million by the US-based group.
The two companies issued a joint statement and said, “The post-money enterprise valuation of Nxtra is approximately USD 1.2 billion and Carlyle will hold a stake of approximately 25% in the business upon completion of the transaction, with Airtel continuing to hold the remaining stake of approximately 75%”.
The transaction involved in the deal between the two companies is subject to necessary regulatory approvals, which includes approval from the Competition Commission of India.
Comfort Investments II which is an affiliated entity of CAP V Mauritius Limited, an investment fund which is under the management and advisory of affiliated entities of The Carlyle Group will purchase the shareholding stakes.