CCI approves acquisition of 100% shareholding in Exide Life by HDFC Life

The Competition Commission of India (CCI) approves acquisition by HDFC Life Insurance Company (Acquirer) of 100% shareholding in Exide Life Insurance Company Limited (Target) under Section 31(1) of the Competition Act, 2002.

After the acquisition, Exide Life will become a wholly-owned subsidiary of HDFC Life.

It is proposed to merge Exide Life with HDFC Life.