CCI approves acquisition by Sanoti Properties LLP of shareholding in Magma HDI General Insurance Company Limited

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....CI approves acquisition by Sanoti Properties LLP of shareholding in Magma HDI General Insurance Company Limited <br>News and Press Release<br>Dated:- 19-5-2022<br><BR>The CCI approves acquisition by S....

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....anoti Properties LLP (Sanoti/Acquirer) of shareholding in Magma HDI General Insurance Company Limited (Magma HDI/Target) under Section 31(1) of the Competition Act, 2002 The proposed combination is a....

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....cquisition of 55.39% of the total equity share capital of Magma HDI by Sanoti, by way of a proposed subscription of certain equity shares of the Target along with a proposed simultaneous acquisition o....

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....f certain equity shares of the Target held by Poonawalla Fincorp Limited and Serum Institute of India Private Limited. Sanoti is engaged in the business of development of commercial and residential r....

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....eal estate projects. Magma HDI is engaged in the business of general / non-life insurance in India and offers a complete range of general / non-life insurance products. Detailed order of the CCI wil....

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....l follow.<BR> News - Press release - PIB....