India News | CCI Clears General Atlantic's Additional 4.04 Pc Stake Acquisition in Acko Tech
Get latest articles and stories on India at LatestLY. Acko Tech is engaged in the business of providing general (non-life) insurance through its subsidiary, Acko General Insurance Limited (Acko GI).
New Delhi [India], June 8 (ANI): The Competition Commission of India (CCI) has approved the acquisition of an additional stake of 4.04 per cent in Acko Tech by General Atlantic.
The proposed combination envisages the acquisition of an additional 4.04 per cent shareholding of Acko Technology and Services Private Limited (Acko Tech) by General Atlantic Singapore ACK Pte. Ltd. (GASACK).
Also Read | Turkish Lira Plunges as Erdogan Begins New Presidential Term.
GASACK, an investment holding company, is held by funds or vehicles controlled by General Atlantic.
Acko Tech is engaged in the business of providing general (non-life) insurance through its subsidiary, Acko General Insurance Limited (Acko GI).
"The Commission approved the proposed combination subject to compliance of modifications jointly furnished by GASAK and GAP Bermuda, L.P. under Regulation 19(2) of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011," CCI said in a statement. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)