New Delhi: Fair trade regulator Competition Commission of India (CCI) on Thursday cleared Carlyle Group’s acquisition of stake in Quest Global Services. Quest Global Services Pte provides engineering services for products and services across product lifecycle to its customers. The deal relates to the acquisition of equity stake in Quest Global Services by CA Plume Investments, an affiliate of The Carlyle Group.
Further, the regulator approved the acquisition of additional equity stake in Quest Global Services by Bequest Inc and also gave its nod for the buy-back of equity shares by Quest. The Carlyle Group is a US-based global alternative asset manager, while Bequest is a holding entity of Quest’s co-founder and CEO Ajit Prabhu.
CCI said it has approved the deal under the green channel route.