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Apax Partners cleared by India competition authority to acquire shareholding in IBS Software

( August 16, 2023, 23:12 GMT | Official Statement) -- MLex Summary: Apax Partners has been cleared to acquire an approximately 30 percent shareholding in IBS Software from Techware Singapore Holdings, a portfolio company of Blackstone Inc. The acquirer has neither any presence in India nor any planned business activities in the country, the Competition Commission of India said on Wednesday. A detailed order would follow, it added. IBS Software had announced in May this year that Apax would acquire a minority stake for $450 million. IBS Software predominantly caters to the aviation and travel industries. Statement from the Competition Commission of India follows:...

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