M&A

M&A

Burmans get CCI nod to buy 31.27% addl stake in Religare to become majority owners

Rediff  

The Competition Commission of India (CCI) has approved the acquisition of 31.27 % of additional stake in New Delhi–headquartered Religare Enterprises by four entities of Dabur India promoter Burman family, enabling them to become majority owners in the financial services firm.The fair trade regulator allowed the four entities to acquire Religare's 5.27% through stock market purchase and another 26% through an open offer. The four entities - Puran Associates Pvt Ltd, M.B. Finmart Pvt Ltd, VIC Enterprises Pvt Ltd, and Milky Investment and Trading Companyb- are controlled by the Burman family.Religare is engaged in the financial services business through its subsidiaries and operating entities.