The Competition Commission of India (CCI) approves the proposed combination involving the acquisition by Housing Development Finance Corporation Limited (HDFC Limited) of about ____ shareholding of HDFC ERGO General Insurance Company Limited (HDFC ERGO).

Solution

The Competition Commission of India (CCI) approves the proposed combination involving the acquisition by Housing Development Finance Corporation Limited (HDFC Limited) of certain additional shareholding of HDFC ERGO General Insurance Company Limited (HDFC ERGO).  The proposed combination pertains to the acquisition by HDFC Limited of certain additional shareholding of HDFC ERGO on a spot delivery basis (the Proposed Transaction) such that HDFC Limited (after the Proposed Transaction) and the surviving amalgamated entity i.e. HDFC Bank Limited (HDFC Bank) will hold over 50% of the shareholding of HDFC ERGO in compliance with Indian banking laws.