Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

SECTION 1.2

Description of the concentration

On 28 August 2023, the Commission received a notification for the acquisition of joint control within the meaning of Article 3(1)(b) of Council Regulation (EC) No 139/2004 relating to the investment by Reliance Industries Limited (“RIL”) in the existing and future operating subsidiaries of BAM Digital Realty (the “Joint Venture”), an existing joint venture between Project Holdings Three (DIFC) Limited, an indirectly controlled subsidiary of Brookfield Asset Management Inc. (“Brookfield”) and Digital India, LLC, an indirect wholly-owned subsidiary of Digital Realty Trust, Inc. (“Digital Realty”) .

RIL is an Indian private sector company headquartered in Mumbai, India with business activities spanning a range of sectors including energy, petrochemicals, natural gas, retail, media and entertainment, digital services and textiles.

Brookfield provides asset management services, focused on real estate, infrastructure, renewable power and private equity. Brookfield is headquartered in Toronto, Canada. Digital Realty is a real estate investment trust that owns, acquires, develops and operates data centres. Digital Realty is headquartered in Austin, Texas.

The Joint Venture is active in the acquisition, development and operation of data centre facilities in India. Following completion of the transaction, the Joint Venture will be re-branded to ‘Digital Connexion’.

RIL will invest directly in five Data Centre SPVs incorporated in India that are collectively the operating subsidiaries of the Joint Venture, together with any future Data Centre SPVs incorporated in India that may be formed or acquired as part of the Joint Venture. Following completion of the Transaction, each of the Parties will ultimately directly or indirectly control ~33.3% of the Joint Venture. The Joint Venture has the business purpose of developing and operating data centres in India and does not have any actual or planned activities outside of India. The Joint Venture has no actual or foreseen activities in the EEA.

1Project Holdings Three (DIFC) Limited is a private company organised under the laws of the Dubai International Financial Centre.

2Digital India is a limited liability company registered in Delaware.

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