NEW DELHI: Fair trade regulator Competition Commission of India (CCI) has cleared Bharti Group’s proposed 49 per cent stake purchase in Bharti AXA Life Insurance Co Ltd. BALIC is involved in the business of providing life insurance policies.
The deal relates to the acquisition of 49 per cent shareholding of BALIC by Bharti Life Ventures Pvt Ltd (BLVPL) from AXA India Holdings.
“CCI approves acquisition of approx 49 per cent shareholding of Bharti AXA LifeInsurance Co. Ltd. by BhartiLife Ventures Pvt Ltd from AXA India Holdings & & acquisition of approx 48.54 per cent shareholding of Bharti Management Services Ltd by BhartiEnterprises Ltd. from Societe Beaujon,” according to a post by CCI on X.