Macquarie Capital picks up stake in CloudExtel for $100 million

Macquarie Capital has bought a stake over 51 per cent stake in Mumbai-based network-as-a-service provider CloudExtel for about $100 million (about Rs 8.21 billion), making it the first such deal in the active telecom infrastructure space for principal investment arm of Macquarie Group. With this majority stake in the company, Macquarie will obtain a position on the board, while Bombay Gas Company Limited’s shareholding will be reduced to a minority.