CCI approves acquisition of 4.99% stake in HDFC ERGO by HDFC Bank

The Competition Commission of India (CCI) has approved the acquisition of 4.99 percent shareholding in HDFC ERGO General Insurance Company (HDFC ERGO) by HDFC Bank.

The Proposed Combination involves the acquisition of 4.99% of the outstanding equity share capital of the Target by the Acquirer from Housing Development Finance Corporation (HDFC).

HDFC ERGO General Insurance Company is a joint venture between HDFC and European insurer ERGO International AG.