India, May 20 -- The Government of India issued the following news release:
The Competition Commission of India has approved the proposed combination involving acquisition of Bajaj Allianz Life Insurance Company Limited, Bajaj Allianz General Insurance Company Limited and Bajaj Allianz Financial Distributors Limited by Bajaj Finserv Limited, Bajaj Holdings & Investment Limited and Jamnalal Sons Private Limited.
The Proposed Combination involves acquisition of 26% paid-up equity share capital of Bajaj Allianz Life Insurance Company Limited ("BALIC") and Bajaj Allianz General Insurance Company Limited ("BAGIC") by Bajaj Finserv Limited ("BFS"), Bajaj Holdings & Investment Limited ("BHIL") and Jamnalal Sons Private Limited ("JSPL") from Alli...