The Competition Commission of India (CCI) has approved Housing Development Finance Corporation’s (HDFC) acquisition of 51.20 per cent stake in Apollo Munich Health Insurance and subsequently merger of the latter into HDFC Ergo in a deal worth nearly Rs 1,347 crore.
In June, HDFC agreed to acquire Apollo Hospitals Group's entire 50.8 per cent stake in Apollo Munich Health for Rs 1,336 crore and also the 0.4 per cent stake held by a few employees for Rs 10.84 crore.
HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.
