Comments
The Competition Commission of India (CCI) said it has approved the acquisition of additional stake in Acko Tech by General Atlantic.
The proposed combination envisages acquisition of an additional 4.04 per cent shareholding of Acko Technology and Services (Acko Tech) by General Atlantic Singapore ACK Pte. Ltd. (GASACK).
GASACK, an investment holding company, is held by funds or vehicles controlled by General Atlantic.
Acko Tech is engaged in the business of providing general (non-life) insurance through its subsidiary, Acko General Insurance Ltd (Acko GI).
The Commission approved the proposed combination subject to compliance of modifications jointly furnished by GASAK and GAP Bermuda, L.P. under Regulation 19(2) of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011.
MANIPAL HEALTH
Meanwhile, CCI has also approved the proposed combination involving Manipal Health Enterprises Pvt Ltd and Manipal Education and Medical Group India Pvt Ltd.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.