The Competition Commission of India (CCI) has approved the acquisition of 4.99 percent of the outstanding equity share capital in HDFC ERGO General Insurance Company by private sector lender HDFC Bank. HDFC Bank will acquire 3.56 crore shares or 4.99% stake for Rs 1,906 crore from the parent company Housing Development Finance Corporation (HDFC). HDFC ERGO General Insurance Company is a joint venture between HDFC and European insurer ERGO International AG.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
The proposed combination will enable the lender to participate in the growth opportunity of HDFC ERGO General Insurance and create long-term value for its shareholders, as per a combination notice filed with the regulator.
Important takeaways for all competitive exams:
The Union Cabinet has given a green signal to a proposal to introduce hard penalties…
Karnataka Prasoothi Araike Yojana is a welfare scheme initiated by the government of Karnataka for…
Union Minister of State for Railways and Food Processing Industries Ravneet Singh Bittu has resigned…
The Union Cabinet led by Honorable Prime Minister Narendra Modi has consented to the Bharat…
The 23rd Commonwealth Games are being held in Glasgow, Scotland, from 23 July to 2…
India has made a nation's first native turbojet engine in the 350 kg thrust category.…