CCI approves Real Trustee Advisory's acquisition of WeWork

19 Jun 2024 CW Team

The regulator of fair trade, CCI, has approved the planned equity acquisition of WeWork India Management by Real Trustee Advisory Company. "In its capacity as trustee for Volrado Venture Partners Fund II (Volrado II), Real Trustee Advisory Company (Real Trustee) has approved the acquisition of certain share capital of WeWork India Management (WeWork India), Volrado Venture Partners Fund III-Beta (Volrado III) and other independent co-acquirers, and 100% share capital of 1 Ariel Way Tenant Limited (OAW) by Embassy Buildcon LLP," the CCI said in a release.

The planned transaction has been authorised, according to the Competition Commission of India (CCI). The company, Embassy Buildcon, is involved in the development of residential and commercial real estate as well as other associated operations.

WeWorkIndia provides workplace solutions for businesses in the form of digital real estate and flexible workplaces. On behalf of WeWork International, OAW is the owner of shares in WeWork India. Deals that are over a specific level need regulatory permission, which monitors unscrupulous corporate activities and fosters equitable competition in the market.

Resources

20 May 2025

Delhi-Dehradun Expressway to Open Soon, Says Minister

Union Minister of State for Road Transport and Highways and Corporate Affairs, Shri Harsh Malhotra, inspected the full 210-kilometre stretch of the Delhi-Saharanpur-Dehradun Expressway on Thursday, accompanied by officials from the National Highways Authority of India (NHAI).The Minister expressed satisfaction with the pace of construction and affirmed that the expressway would significantly decongest the National Capital Territory and ease pressure on the Delhi鈥揗eerut Expressway and other arterial routes. He directed officials to address remaining bottlenecks swiftly and ensure that the pro..

Resources

20 May 2025

Assam Gets 3.76 Lakh More PMAY-G 亚博体育官网首页s, Women Mason Scheme Launched

In a major boost to rural development in Assam, Union Minister for Agriculture, Farmers Welfare and Rural Development, Shri Shivraj Singh Chouhan on Thursday virtually attended the Grihapravesh ceremony for 55,000 houses built under the Pradhan Mantri Awas Yojana 鈥� Gramin (PMAY-G). The event, held in Guwahati, also marked the announcement of 3.76 lakh additional housing approvals for the current financial year.Commending Assam鈥檚 progress, Shri Chouhan highlighted that the state has successfully completed 2 million rural homes under PMAY-G, significantly transforming the lives of marginalis..

Infrastructure Urban

20 May 2025

GRAP Stage-I Revoked in Delhi-NCR as AQI Improves

Delhi鈥檚 air quality showed marked improvement on 18 May 2025, with the Air Quality Index (AQI) recorded at 179, placing it in the 鈥楳oderate鈥� category, as per the Central Pollution Control Board (CPCB). In light of this positive trend and favourable forecasts by the India Meteorological Department (IMD) and the Indian Institute of Tropical Meteorology (IITM), the Sub-Committee on Graded Response Action Plan (GRAP) of the Commission for Air Quality Management (CAQM) has decided to revoke Stage-I restrictions in the entire National Capital Region (NCR) with immediate effect.The committee ob..