The Carlyle Group will acquire about 25% stake in Airtel’s data centre business, Nxtra Data, for USD 235 million (about ₹1,780 crore), the company said in a statement on Wednesday.
This will peg the enterprise valuation of Nxtra at USD 1.2 billion which is over ₹9,084 crore.
On completion of the deal, Carlyle will hold about 25%in the business with Airtel continuing to hold the remaining stake of about 75 per cent.
“Bharti Airtel and Comfort Investments II, an affiliated entity of CAP V Mauritius Limited, an investment fund managed and advised by affiliated entities of the Carlyle Group, today announced an agreement under which Comfort Investments II will invest USD 235 million in Nxtra Data Limited, a wholly owned subsidiary of Airtel engaged in the data centre business,” a Bharti Airtel statement said.
The transaction is subject to regulatory approvals, including nod from the Competition Commission of India.
Nxtra, which is headquartered in New Delhi, offers data centre services to leading Indian and global enterprises, start-ups, small and medium businesses and governments.