CCI approves acquisition of 4.99% stake in HDFC ERGO by HDFC Bank
- The Competition Commission of India (CCI) has approved the acquisition of 4.99 percent of the outstanding equity share capital in HDFC ERGO General Insurance Company by private sector lender HDFC Bank.
- HDFC Bank will acquire 3.56 crore shares or 4.99% stake for Rs 1,906 crore from the parent company Housing Development Finance Corporation (HDFC).
- HDFC ERGO General Insurance Company is a joint venture between HDFC and European insurer ERGO International AG.
Points to Remember:
- HDFC Bank is acquiring what percent share in HDFC ERGO? 4.99%
- HDFC Bank has acquired 4.99% stake in HDFC Ergo for what amount? Rs 1,906 crore
Source: Business Standard