India Digest: Singapore entity buys TGI Fridays; CCI clears Capgemini-Altran deal

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In the latest M&A deal, Bistro Hospitality and TGI Fridays Inc, the joint venture partners of TGI Fridays in India, have sold their 75 per cent and 25 per cent stakes, respectively, to Singapore-based Universal Success Enterprises. In another development, (CCI) has cleared the proposed acquisition of Altran Technologies SA by Capgemini.

Singapore entity acquires TGI Fridays

Bistro Hospitality and TGI Fridays Inc, the joint venture partners of the US casual dining restaurant chain TGI Fridays in India, have sold their 75 per cent and 25 per cent stakes, respectively, in the company to Singapore-based Universal Success Enterprises, The Economic Times reported.

Financial details of the deal were not disclosed.

TGI Fridays has been present in India for over two decades now, and currently has nine outlets in the country. Early last year, TGI Fridays shut three stores as its profit took hit with the rollback of input tax credit, the report added.

CCI clears Capgemini’s acquisition of Altran

The Competition Commission of India (CCI) has cleared the proposed acquisition of Altran Technologies SA by Capgemini.

In a tweet on Tuesday, CCI said, “@CCI_India approves acquisition of sole control over Altran Technologies S.A. by Capgemini.”

In June this year, Capgemini had entered into an agreement to acquire Altran Technologies in a 3.6 billion-euro ($4.1 billion) deal. The agreement was unanimously recommended and approved by the boards of directors of Capgemini and Altran.