Money & Banking

Jomei Investments 4.15% stake buy in Aditya Birla Capital gets CCI nod

Our Bureau New Delhi | Updated on October 24, 2019 Published on October 24, 2019

The Competition Commission of India (CCI) has approved the acquisition of 4.15 per cent shareholding in Aditya Birla Capital Limited (ABCL) by Jomei Investments Limited (JIL).

JIL, a special purpose vehicle, is wholly-owned by Advent International GPE IX Limited Partnership, a fund managed by Advent International Corporation.

ABCL is the holding company for the financial services businesses of the Aditya Birla group. Through its subsidiaries and joint ventures, ABCL has a presence across diverse businesses including, non-banking financial sector, asset management, life insurance, housing finance, health insurance, general insurance broking, wealth management, equity, currency and commodity broking, pension fund management and asset reconstruction businesses.

Published on October 24, 2019
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