CCI approves HDFC Life’s acquisition of Exide Life
The Competition Commission of India (CCI) has given its approval for HDFC Life’s acquisition of Exide Life, HDFC Life Insurance Company will get acquisition a 100% shareholding in Exide Life Insurance Co Ltd.
- The Deal was signed for ₹6,687 crore. in which, HDFC Life is to pay ₹725.98 crore in cash and left money will pay by issuing 87 million shares at ₹685 apiece to Exide Industries.
How can HDFC Life’s acquisition of Exide Life help in growth?
- With this acquisition, HDFC Life will fcous in deepening its presence in south India.
- It will focus smaller towns, will act complementing its market footprint.
- It will have an access to a wider market.
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