Prudential gets CCI nod to acquire 75% stake in Bharti Life Insurance
Fair trade regulator CCI on Tuesday cleared the proposal of Prudential Corporation Holdings, an arm of UK-based financial giant Prudential plc, to acquire a stake in Bharti Life Insurance Company Ltd.
"The proposed combination envisages the acquisition of certain equity shareholding in Bharti Life Insurance Company Ltd (Target) by Prudential Corporation Holdings Ltd (Acquirer)," the Competition Commission of India (CCI) said in a release.
Prudential Corporation Holdings acts as the holding company of the acquirer Group's insurance and asset management operations in Asia and provides management and support to its Asia and Africa business operations, while Bharti Life Insurance is an IRDAI-licensed insurer.
"CCI approves acquisition of certain equity shareholding in Bharti Life Insurance Company Limited by Prudential Corporation Holdings Limited," the regulator said in a post on X.
In May this year, UK-based Prudential plc announced that it would acquire a majority 75 per cent stake
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