The Competition Commission of India (CCI) has given approval for the proposed investments by Carlyle Group and other investors in PNB Housing Finance. Under the deal, Pluto Investments S.a.r.l. and Salisbury Investments would acquire an equity stake in PNB Housing Finance, where state-owned Punjab National Bank holds a little over 32 per cent stake.
The transaction has been approved by the CCI under the Green Channel. Green Channel is an automatic approval system wherein a combination is deemed to have been approved by the regulator upon the filing of the notice for the combination by the parties concerned.
PNB Housing Finance is a registered housing finance company with National Housing Bank (NHB). They provide housing loans to individuals and corporate bodies for construction, purchase, repair and up-gradation of houses.
