 "CCI clears two private equity players' stake purchase in Yes Bank")
The Competition Commission of India (CCI) on Thursday approved the proposed Rs 8,900 crore deal wherein two entities will buy stakes in Yes Bank.
CA Basque Investments, part of the Carlyle Group, and Verventa Holdings, an affiliate of funds managed by Advent International are to acquire 10 per cent stake each in the private sector lender.
The proposed combination involves the acquisition of up to 10 per cent each of the total paid up share capital and voting rights of Yes Bank by CA Basque Investments and Verventa Holdings, according to official releases.
In July, Yes Bank announced raising of equity capital of Rs 8,900 crore from funds affiliated with two private equity investors -- Carlyle and Advent International.
Deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices in the market place.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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