The Competition Commission of India (CCI) has approved acquisition of 70% stake by Zurich Insurance Company Ltd (Acquirer) in Kotak Mahindra General Insurance Company Limited (Target).

Economy Business

The Competition Commission of India (CCI) has approved acquisition of 70% stake by Zurich Insurance Company Ltd (Acquirer) in Kotak Mahindra General Insurance Company Limited (Target). The Proposed Combination involves an acquisition of a majority stake in Target by the Acquirer from Kotak Mahindra Bank Limited. Pursuant to the Proposed Combination, the Acquirer will acquire a 51% stake in Target (through a combination of fresh growth capital and share purchase). In addition to the above, the Acquirer will also acquire an additional stake of up to 19% in the Target, over a period of time.


      The Competition Commission of India is the chief national competition regulator in India.

     

     

 

     


Competition Commission of India (CCI)

Founded- 14 October 2003
Chairperson- Ravneet Kaur IAS
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