The Competition Commission of India has approved the proposed acquisition of up to 80.15% shareholding of Aadhar Housing Finance Ltd. by BCP Asia II Holdco VII Pte. Ltd.

The proposed combination involves the acquisition of up to 80.15% shareholding in Aadhar Housing Finance Limited (Target/AHFL) by BCP Asia II Holdco VII Pte. Ltd. (Acquirer /BCP Asia) by way of a secondary acquisition and an open offer to the public shareholders of the Target (Proposed Combination).

The Acquirer is controlled by funds advised and/or managed by affiliates of Blackstone Inc. It is not engaged in providing any products/services and/or performing the business of investment holding in India or worldwide since its incorporation.

The Target is engaged in provision of home loans/housing finance and loans against property in India. It is also registered as a Corporate Agent (Composite) with the Insurance Regulatory & Development Authority of India and distributes life and general insurance products.

Detailed order of the Commission will follow.

Acquisition of Aadhar Housing Finance: proposed up to 80.15% stake by BCP Asia via secondary acquisition and open offer. Approval concerns the proposed acquisition of up to 80.15% shareholding in Aadhar Housing Finance by BCP Asia II Holdco VII via a secondary acquisition and an open offer; the Acquirer is a Blackstone advised investment vehicle and the Target provides home loans, loans against property and distributes insurance as a Corporate Agent.