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Carlyle to acquire 25 percent stake in Bharti Airtel’s Data Centre business

Wednesday, 01 Jul 2020
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Bharti Airtel and Comfort Investments II, an affiliated entity of CAP V Mauritius, an investment fund managed and advised by affiliated entities of The Carlyle Group, have entered an agreement.

As part of the agreement Comfort Investments II will invest USD 235million in Nxtra Data (Nxtra), a wholly-owned subsidiary of Airtel engaged in the data centre business.

The post-money enterprise valuation of Nxtra is approximately USD 1.2 billion and Carlyle will hold a stake of approximately 25 percent in the business upon completion of the transaction, with Airtel continuing to hold the remaining  stake of approximately 75 percent.

The transaction is subject to the necessary regulatory approvals, including approval from the Competition Commission of India.

Nxtra is building multiple large data centres across the country to capture the significant growth opportunities in India.

In 2019, the company commissioned a state-of-the-art data centre in Pune and is building more centres across Chennai, Mumbai and Kolkata.

Nxtra will use the proceeds from the transaction to continue scaling up its infrastructure and offerings across the country.

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