According to the Press Information Bureau, the Competition Commission of India (CCI) has approved the acquisition of certain shareholding in Navi Limited by MIH Payments Holdings B.V.
The acquirer, MIH Payments Holdings B.V., is an indirect wholly-owned subsidiary of Prosus N.V. The release stated that the acquirer does not undertake any business activity on its own, other than holding investments in its portfolio companies that operate in India.
The target company, Navi Limited, serves as the holding company of the Navi Group. The group provides financial services through a single consumer-facing mobile application, offering transparent and user-friendly financial products via its subsidiaries.
What it means
- MIH Payments Holdings B.V. is permitted to acquire a certain shareholding in Navi Limited following approval from the Competition Commission of India.
Source
Press Information Bureau, Government of India, “CCI approves acquisition of certain shareholding in Navi Ltd by MIH Payments Holdings B.V.”. Read the original release.
Summary of an official release for general information only. Not investment advice. Read the original source before acting on any information.
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