The Competition Commission of India (CCI) has given its approval for the acquisition of Holcim’s stake in Ambuja and ACC by the Adani Group. In a tweet on Friday, the watchdog said it has approved the “acquisition of the stake in Holderind Investments, Ambuja Cements and ACC by Endeavour Trade and Investment”.

The proposed combination involves the acquisition of a 100 per cent stake in Holderind Investments Ltd by Endeavour Trade and Investment Ltd.

Endeavour Trade and Investment is a Mauritius-based company of the Adani group.

HDFC merger

The fair trade regulator has approved the merger proposal of HDFC Bank and its parent HDFC Ltd. The proposed combination envisages the merger of HDFC Investments and HDFC Holdings with HDFC Ltd in the first step and subsequently, the merger of HDFC Ltd into HDFC Bank.

IIFL Home

The CCI has approved the acquisition of a stake in IIFL Home indirectly by Abu Dhabi Investment Authority (ADIA).

The proposed transaction relates to the acquisition of up to a 20 per cent stake in IIFL Home Finance by Platinum Owl C 2018 RSC Ltd, a trustee acting for Platinum Jasmine Trust. ADIA is the sole beneficiary and settlor of the Platinum Jasmine Trust.

In a tweet on Friday, the CCI said it has approved the “acquisition of a stake in IIFL Home indirectly by ADIA Group”. In June, IIFL Home Finance, a subsidiary of IIFL Finance, had entered into definitive agreements to raise Rs 2,200 crore of primary capital for a 20 per cent stake from a wholly-owned subsidiary of ADIA.