Napean Opportunities, Honey Wheat get CCI nod to acquire stake in SBI General Insurance
Updated : December 13, 2019 07:16 PM IST
The transaction involves the acquisition of 16.01 percent paid-up share capital of SBI General Insurance by Napean Opportunities and 9.99 percent by Honey Wheat Investment Ltd.
The country's largest lender and Insurance Australia Group (IAG) held 70 percent and 26 percent, respectively, in SBI General Insurance.
The CCI has also approved Sanaka Growth SPV I Ltd's investment in Edelweiss Securities Ltd (ESL).