The Competition Commission of India (CCI) has cleared Warburg Pincus’ acquisition of Shriram Housing Finance through its affiliate Mango Crest Investment. The deal value was earlier pegged at Rs 4,630 crore.
In a statement on Tuesday, the antitrust regulator said the principal business activity of Mango Crest, incorporated in Mauritius, is “undertaking investment holding activities”.
Other deals
The regulator said it has also cleared two other transactions. These include IndusInd International Holdings’ acquisition of a majority stake in both Invesco Asset Management (India) and Invesco Trustee, and a transaction involving Apollo Hospital and Advent.
Apollo had earlier declared that it will raise Rs 2,475 crore through private equity major Advent International for Apollo HealthCo, which manages Apollo 24/7 vertical. There was also a proposal to merge Keimed, a wholesale pharma distribution business, with Apollo HealthCo over the next 24 to 30 months.
As for the Invesco deal, the regulator said: “The proposed combination pertains to the acquisition of 60% shareholding in each of Invesco Asset Management (India) Private Limited (Invesco AMC) and Invesco Trustee Private Limited (Invesco Trustee) by IndusInd International Holdings Limited (IIHL).”
IIHL will hold the investment through its wholly owned arm IIHL AMC Holdings.
