Busybees is engaged in the business of providing logistics and delivery solution services in the country under the brand name ‘Xpressbees’.
BXG Xenon HoldCo Ltd, controlled by funds advised and/ or managed by affiliates of Blackstone Inc, will acquire a stake in Busybees.
The acquirer is a newly incorporated entity and at present does not have any business operations.
Blackstone is a global alternative asset manager.
Besides, the regulator has given its nod to TPG Growth V SF Markets Pte Ltd (TPG SF) to acquire around 7 per cent shareholding in Busybees.
TPG SF is majority owned and controlled by certain affiliates of TPG, Inc. TPG Group is an investment firm.
Deals beyond a certain threshold require the approval of CCI, which keeps a tab on unfair business practices in the market place.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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