CCI approves acquisition of equity stake by Carlyle in PNB Housing Finance

The Competition Commission of India (CCI) has approved Carlyle Group‘s proposed Rs 4000 crore investment in PNB Housing Finance making it the majority shareholder, even as the Securities Appellate Tribunal is yet to give its judgement on the matter.

The share price of PNB Housing zoomed to hit the 5% upper circuit at Rs 720.45 on Wednesday.

The CCI received a notice relating to acquisition of equity stake in PNB Housing Finance by Pluto Investments, a group company of Carlyle, and Salisbury Investments, under Green Channel. “Notice received under the Green Channel is deemed to be approved under regulation 5A of the Competition Commission of India,” ministry of corporate affairs said in a note.

Source-Economic Times

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