SUMMARY
- CCI approved TIGA Investments’ bid to acquire a stake in Dream Sports Inc.
- No competitive concerns were noted, and the deal was cleared via the green channel.
- Dream Sports operates Dream11 through its subsidiary Sporta Technologies in India’s online gaming sector.
The Competition Commission of India (CCI) has approved Singapore-based investment firm TIGA Investments’ bid to buy a stake in Dream Sports Inc., the parent company of Dream11. The regulator stated in a notice, that the transaction concerns TIGA Acquisition Corp III’s acquisition of certain preferred shares and related rights from an existing DSI shareholder.
Dream Sports conducts its business through its subsidiary, Sporta Technologies in India where the firm specializes in offering online gaming and related digital engagement services.
The primary objective of TIGA Investments (TIGA) is to make long-term investments in distinctive companies with capable management teams. The firm is also the sponsor of TIGA Acquisition Corp., an acquisition company with a specific purpose listed on the NYSE. It offers investments in private finance and equity around Asia Pacific.
CCI stated, “The parties and their respective group entities and affiliates do not have any horizontal overlaps, existing or potential vertical linkages, and existing or potential complementary business activities in India. The proposed transaction is unlikely to cause any appreciable adverse effect on competition in India,”.
Additionally, CCI approved the deal through the green channel. By this method, a transaction is considered allowed once it is notified to the fair-trade regulator if there is no significant danger that it will negatively impact competition.
