CCI cleared deal between Bandhan Fin holdings-led consortium and IDFC

Published on August 03, 2022
Current Context: Competition Commission of India(CCI) approved a Rs 4,500 deal in which Bandhan Financial Holdings-led consortium will buy stakes in IDFC Asset Management and IDFC AMC trustee.
CCI cleared deal between Bandhan Fin holdings-led consortium and IDFC
  • The consortium consists of Chrys capitals and Singapore's sovereign fund GIC. The proposal includes the acquisition of a 99.69 percent stake in IDFC Asset Management Company Ltd and a 100 percent stake in IDFC AMC Trustee Company Ltd.
  • Bandhan Financial Holdings ltd, Lathe Investment Pte. Ltd, Tangerine Investment ltd, and Infinity Partners will acquire the stakes.
  • IDFC AMC is the asset management company of IDFC mutual fund and IDFC Trustees is a trustee company of IDMF.
  • Bandhan Financial Holdings is a wholly owned subsidiary of Bandhan Financial Services Ltd and is the promoter of Bandhan bank Ltd.
  • The lathe is wholly owned by Singapore-based GIC Ventures Private Ltd. Tangerine Investments is a subsidiary of Chrys Capital Group and Infinity partners is a partnership company.

Question: 

Q.1 CCI cleared the deal worth _______ wherein Bandhan Financial Holdings-led consortium will buy stakes in IDFC Asset Management and IDFC AMC trustee.
a. Rs 3000 cr
b. Rs 3500 cr
c. Rs 4000 cr
d. Rs 4500 cr

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