Wednesday, November 3, 2021

HDFC Life acquiring 100% stake in Exide Life Insurance | STOCK OUTLOOK

     


CCI gives green signal to HDFC Life for acquiring 100% stake in Exide Life Insurance

After completion of the share acquisition, Exide Life (which will be a wholly-owned subsidiary of HDFC Life) is proposed to be merged with HDFC Life.


The Competition Commission of India (CCI) approves acquisition by HDFC Life Insurance Company (Acquirer) of 100% shareholding in Exide Life Insurance Company (Target) under Section 31(1) of the Competition Act, 2002.

The deal comprised involves the acquisition of fully paid-up equity shares, representing 100% of Target by the Acquirer from Exide Industries Limited.

After completion of the share acquisition, Exide Life (which will be a wholly-owned subsidiary of HDFC Life) is proposed to be merged with HDFC Life.

HDFC Life is a life insurance company registered with the Insurance Regulatory and Development Authority of India (the IRDAI). It offers a range of individual and group life insurance solutions including participating, non-participating and unit-linked insurance products.

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