NEW DELHI: Fair trade regulator CCI has approved Canada’s CPP Investments proposal to acquire a stake in Prestige Hospitality Ventures.
Last week, Canada Pension Plan Investment Board (CPP Investments) announced a 441 million Canadian dollars (Rs 3,000 crore) investment in Prestige Hospitality Ventures to acquire a 27 per cent stake.
CPP Investments is acquiring the stake through its affiliate CPP Investment Board Private Holdings (4) Inc.
The Competition Commission of India (CCI) cleared the proposed deal on Tuesday.
“Commission approves acquisition of certain shareholding in Prestige Hospitality Ventures Limited by CPP Investment Board Private Holdings (4) Inc,” CCI said in a post on X.
Prestige Hospitality Ventures Ltd (PHVL) is the hospitality platform of Prestige Estates Projects Ltd (Prestige Group), one of India’s leading real estate developers.
This marks CPP Investments’ first direct investment in India’s hospitality sector and builds on its growing hospitality exposure across Asia Pacific, including recent investments in Japan and Korea.
PHVL owns a portfolio of luxury and premium hotels in key gateway cities across the country and is well positioned for future growth through a substantial development pipeline spanning Bengaluru, Chennai, Delhi, Goa, Hyderabad, and Mumbai.
CPP Investments is a professional investment management organisation. As of June 30, 2026, the fund totalled 863.6 billion Canadian dollars (CAD).
In a separate deal, the anti-trust regulator also approved the proposed acquisition of Vishavari Tollway Pvt Ltd and nine special purpose vehicles (SPVs) operating road assets in India by Concessoc 41 SAS.
The SPVs operate specific stretches of national highways in Andhra Pradesh, Odisha, and Gujarat.
Vishavari Tollway is engaged in the provision of operation and maintenance services and engineering, procurement and construction services to the highway assets operated by SPVs.
Concessoc 41 SAS is a French simplified joint-stock company and a subsidiary of VINCI Concessions (part of the VINCI Group).
“Commission approves the proposed acquisition of 100 per cent shareholding of Vishavari Tollway Private Limited and nine SPVs operating road assets in India by Concessoc 41 SAS,” the competition watchdog said.
Deals beyond a certain threshold require approval from CCI. The regulator keeps a watch on unfair business practices and also promotes fair competition in the marketplace.
