Carlyle unit to take 25% stake in Airtel’s data centre business for $235 million

The Carlyle Group-owned Comfort Investments II will acquire 25% stake in Bharti Airtel’s data centre business, Nxtra Data Ltd, for $235 million, the Sunil Bharti Mittal-owned telecom company said on Wednesday.

Following the transaction, Airtel will continue to hold the remaining 75% in its data centre business. The post-money enterprise valuation of Nxtra will stand at approximately $1.2 billion, Airtel said in a statement.

The transaction with Comfort Investment, which is an affiliated entity of CAP V Mauritius Ltd, an investment fund managed and advised by affiliated entities of Carlyle, is subject to necessary regulatory approvals, including clearance from the Competition Commission of India (CCI), the statement added.