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CCI approves acquisition by Knowledge Realty Trust of entities belonging to Blackstone Group

Published: May 14, 2025

By TIOLCorplaws News Service

NEW DELHI, MAY 14, 2025: THE Competition Commission of India has approved acquisition by the Knowledge Realty Trust of certain entities belonging to Blackstone Group and/or Sattva Group.

The Proposed Combination comprises of direct and indirect acquisition by the Knowledge Realty Trust, acting through its manager, Knowledge Realty Office Management Services Private Limited (formerly known as Trinity Office Management Services Private Limited) (Acquirer REIT) of certain entities, some of which inter-alia belong to the Blackstone Group, some belonging to the Sattva Group and remaining held jointly controlled by Blackstone and Sattva Group (Target Entities). In lieu of such acquisition, the existing shareholders of the Target Entities will be issued units of the Acquirer REIT.

The Acquirer REIT has been set up as a contributory, determinate and irrevocable trust under the provisions of the Indian Trusts Act, 1882, pursuant to a trust deed dated 10 October 2024, for engaging in the business of owning and/or operating a portfolio of rent or income generating real estate assets and related income generating assets, in accordance with the SEBI (Real Estate Investment Trusts) Regulations, 2014. The Acquirer REIT was registered with the SEBI on 18 October 2024 as a real estate investment trust under the REIT Regulations.

The Target Entities are engaged in the commercial real estate and renewable power sectors in India.

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