The Indian Competition Authority unconditionally approves the acquisition of shareholding in a general insurance company by a commercial bank (HDFC Bank / HDFC Ergo General Insurance)

Bhattacharya, Aditya; Lakshmikumaran, Charanya; Sandeepan, Neelambera; Narayanan, Badri

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25 Oct 2021

The Indian Competition Authority unconditionally approves the acquisition of shareholding in a general insurance company by a commercial bank (HDFC Bank / HDFC Ergo General Insurance)

KEYWORDS

Reference

Indian Competition Authority, HDFC Bank / HDFC Insurance Company , Merger decision, 25 October 2021

A notice was filed by HDFC Bank Limited (“HDFC Bank/Acquirer”) pursuant to the execution of a Binding Term Sheet between HDFC Bank and Housing Development Finance Corporation Limited (“HDFC”). It envisages an acquisition by HDFC Bank of 4.99% of the outstanding equity share capital, on an undiluted basis, of HDFC ERGO General Insurance Co. Ltd. ("Target") from HDFC

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Authors

Aditya Bhattacharya
Agriya - Chambers of Law (New Delhi)

India 76 contributions 6726 visits
Charanya Lakshmikumaran
Lakshmikumaran & Sridharan (New Delhi)

India 92 contributions 9724 visits
Neelambera Sandeepan
Lakshmikumaran & Sridharan (New Delhi)

India 92 contributions 9779 visits
Badri Narayanan
Lakshmikumaran & Sridharan (New Delhi)

India 84 contributions 7935 visits

Quotation

Aditya Bhattacharya, Charanya Lakshmikumaran, Neelambera Sandeepan, Badri Narayanan, The Indian Competition Authority unconditionally approves the acquisition of shareholding in a general insurance company by a commercial bank (HDFC Bank / HDFC Ergo General Insurance), 25 October 2021, e-Competitions October 2021, Art. N° 106188

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