NEW DELHI: Hulst B V, which has signed a deal to acquire about 30% stake in NIIT Technologies, has received approvals from anti-trust authorities in Germany and the US for the transaction, as per a regulatory filing on Friday. In April, Baring Private Equity Asia (BPEA) announced plans to buy about 30% stake in NIIT Tech from NIIT Ltd and other promoter entities at a price of ₹1,394 per share, pegging the transaction at about ₹2,627 crore. "The purchaser (Hulst B V) has informed the company that it has received anti-trust approvals viz approval of the CCI and the anti-trust authorities in Germany and in the US," NIIT Tech said in a filing to BSE. Previously, the agreement had stipulated that "the purchaser will not undertake any trade in the equity shares of NIIT Tech from the execution of share purchase agreement (SPA) until the closing date". It also noted that the parties are working towards completion of other terms and conditions as mentioned in SPA.

Source: Mint May 10, 2019 14:37 UTC