CCI approves acquisition of 100% shareholding in Exide Life by HDFC Life
- The Competition Commission of India (CCI) has approved the accquisition of 100% shareholding in Exide Life Insurance Company Limited by HDFC Life Insurance Company.
- The acquisition has been approved under Section 31(1) of the Competition Act, 2002.
- After the acquisition Exide Life will become wholly owned subsidiary of HDFC Life.
- It is proposed to merge Exide Life with HDFC Life.
Points to Remember:
- Which company is acquiring 100% share of Exide Life Insurance Company Limited?
Source: PIB
Also Read: HDFC Life to acquire Exide Life Insurance for Rs 6,687 crore in stock and cash deal