| | AUGUST 20238The Competition Commission of India (CCI) approved the merger of Tata Cleantech Capital and Tata Capital Financial Services into Tata Capital on Aug 8. Tata Capital Financial Services (TCFSL) and Tata Cleantech Capital are non-banking financial companies registered with the RBI. Tata Capital (TCL) owns both of these companies.According to CCI, the proposed combination is a merger of Tata Capital Financial Services (TCFSL) and Tata Cleantech Capital (TCCL) into Tata Capital (TCL).TCL is an RBI-registered non-deposit-accepting core investment company (CIC) that invests in its subsidiaries, which are involved in lending and providing a wide range of financial services and products.Deals above a certain threshold require approval from the regulator, who monitors unfair business practises in the marketplace. The Carlyle Group will purchase a significant minority stake in Quest Global Services, a leading engineering services firm, for an undisclosed sum, the two companies announced on Aug 8.According to sources, the private equity firm will invest $500 million through funds managed by Carlyle Asia Partners to acquire a 28 Percentage stake in Quest Global Services at a valuation of $1.8 billion, displacing existing investors Bain Capital, Advent Capital, and GIC of Singapore.Aside from Carlyle, Quest's founder Ajit Prabhu will invest $120 million to increase his stake in the company from 32 Percentage to 40 Percentage. According to insiders, the company will also invest $180-$200 million in a share buyback.After two decades, The Carlyle Group is investing in Quest for the second time. The US fund invested $6 million in Quest Global in 2003 for a minority stake."The long association was one of the factors in choosing Carlyle," Ajit Prabhu, Chairman & CEO of Quest Global, said. "In the past, they assisted in making introductions when we were young." We now anticipate that they will assist us in propelling our next phase of growth. At Quest Global, we believe that engineering has a unique opportunity to solve today's problems". CCI APPROVES MERGER OF TATA CLEANTECH CAPITAL & TATA CAPITALCARLYLE GROUP ACQUIRES MINORITY STAKE IN QUEST GLOBAL SERVICESIN FOCUSIN FOCUS
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