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TaxTMI 
CCI approves acquisition of Compulsorily Convertible Preference Shares (CCPS) in Northern Arc Capital Limited by International Finance Corporation (IFC)
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....CI approves acquisition of Compulsorily Convertible Preference Shares (CCPS) in Northern Arc Capital Limited by International Finance Corporation (IFC) <br>News and Press Release<br>Dated:- 3-4-2024<b....
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....r><BR>The Competition Commission of India (CCI) has approved the acquisition of Compulsorily Convertible Preference Shares (CCPS) in Northern Arc Capital Limited (Northern Arc/Target) by the Internati....
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....onal Finance Corporation (IFC). The Proposed Combination involves the acquisition of fully paid Series C CCPS ('Subscription Shares') in Northern Arc by IFC. The Subscription Shares represent approxi....
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....mately 6% of the total issued and paid-up share capital of Target on a fully diluted basis along with certain affirmative voting rights and board nomination rights. IFC, an international organization....
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.... is a member of the World Bank Group with its own Articles of Agreement, share capital, financial structure, and management. It helps countries achieve sustainable growth by financing private sector i....
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....nvestment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. Northern Arc, an unlisted Non-Banking Financial Company in India, is e....
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....ngaged in catering to the diverse retail credit requirements of under-served households and businesses in India. Its services in the sector include lending, distribution, and asset management services....
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..... Detailed order of the CCI will follow.<BR> News - Press release - PIB....