The Competition Commission of India (CCI) has approved the proposed combination involving the acquisition of equity stakes in Bajaj Allianz Life Insurance Company Limited, Bajaj Allianz General Insurance Company Limited, and Bajaj Allianz Financial Distributors Limited.
The stake acquisition will be carried out by Bajaj Finserv Limited, Bajaj Holdings & Investment Limited, and Jamnalal Sons Private Limited, the CCI said in a statement on May 20.
As per the details shared, the transaction involves the consolidation and realignment of shareholding among group entities to streamline ownership structures within the Bajaj Group’s financial services vertical.
The financial terms of the transaction have not been disclosed yet.
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