Comments
Competition Commission has approved Sundaram Finance’s proposed Rs 450 crore deal to buy out UK—based RSA Group’s entire 26 per cent stake in their venture Royal Sundaram Alliance Insurance Company.
RSA Group decided to exit Royal Sundaram Alliance by offloading its 26 per cent stake and the same was announced in February this year.
Post stake sale, Royal Sundaram would be a 100 per cent subsidiary of Sundaram Finance and its associates.
In a tweet today, Competition Commission of India (CCI) said it has approved Sundaram Finance’s acquisition of additional stake of 26 per cent in Royal Sundaram.
Royal Sundaram Alliance was the first private general insurance company, which was granted licence in 2000, following opening up of the sector.
It offers motor, health, personal accident, home and travel insurance, among others.
Comments
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.