TIGA Investments gets CCI's nod to acquire stake in Dream11
The Hindu
CCI approves TIGA Investments' acquisition of Dream Sports Inc under green channel route, ensuring no competition concerns.
The Competition Commission of India (CCI) has granted nod to Singapore-based TIGA Investments' proposal to acquire a stake in Dream11's parent company Dream Sports Inc.
The deal was cleared by CCI under the green channel route.
The transaction pertains to the purchase by Tiga Acquisition Corp III (Tiga) of certain preferred stock of Dream Sports Inc (DSI), along with certain rights, from an existing shareholder of DSI, the regulator said in a notice on Monday (September 23, 2024).
However, the fair trade regulator CCI did not reveal the name of the existing shareholder.
The U.S.-based Dream Sports conducts its operations through its subsidiary in India, Sporta Technologies Pvt Ltd. DSI, a sports tech company, which owns a portfolio of leading brands like Dream11 and FanCode.
Sporta is primarily involved in the provision of online gaming and allied digital engagement services in India.
TIGA Investments (TIGA) focuses on making long-term investments in differentiated businesses with strong management teams.
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