Business Standard

CCI clears proposed acquisition of HDFC Credila Financial Services

Anti-trust regulator CCI on Tuesday cleared the proposed purchase of 90% equity stake in HDFC Credila Financial Services by a private equity consortium of BPEA EQT and ChrysCapital

Photo: PTI

Photo: PTI

Press Trust of India New Delhi

Listen to This Article

Anti-trust regulator CCI on Tuesday cleared the proposed purchase of 90 per cent equity stake in HDFC Credila Financial Services by a private equity consortium of BPEA EQT and ChrysCapital.

The buyers are Kopvoorn, part of the BPEA EQT group, and three ChrysCapital group entities -- Moss Investments, Infinity Partners and Defati Investments Holding.

Click here to connect with us on WhatsApp

The proposed combination pertains to the acquisition by the acquirers of equity shares comprising about 90 per cent of the shareholding and voting rights of HDFC Credila, according to an official release.

HDFC Credila Financial Services (HDFC Credila) is a Reserve Bank of India-registered non-banking financial company (NBFC) engaging in the business of providing retail education loans.

 

The Competition Commission of India (CCI) said it has approved the proposed deal.

In June, HDFC Ltd, HDFC Bank and HDFC Credila announced that they have entered into definitive agreements to sell a majority stake in HDFC Credila to a private equity consortium of BPEA EQT and ChrysCapital for Rs 9,060 crore.

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.)

Topics : CCI HDFC

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Aug 08 2023 | 11:15 PM IST

Explore News