Carlyle Group’s (Carlyle) deal for acquiring equity stakes in Quest Global Service (Quest), an engineering service provider, has been cleared by India’s fair trade regulator, the Competition Commission of India (CCI), according to a report by the Press Trust of India.
In August, Carlyle and Quest announced that had reached a definitive partnership agreement, whereby Carlyle will be acquiring a minority stake in the company, however the transaction required a CCI green light before proceeding.
The report quotes the CCI as saying, “Given that there are no horizontal overlaps, vertical relationships, or complementary businesses, the transaction does not raise any risk of an appreciable adverse effect on competition in the country and is being notified under the green channel route.”
