News Karnataka
Thursday, February 22 2024

CCI approves Temasek arm’s acquisition of Niva Bupa shares

Photo Credit : IANS

New Delhi: The Competition Commission of India (CCI) has approved a subscription to the equity shares of Niva Bupa Health Insurance Company Limited by V-Sciences Investments Pte. Ltd, a subsidiary of Temasek Holdings.

Temasek Holdings (Private) Limited is an investment company based in Singapore that has a portfolio that spans a broad spectrum of industries.

The CCI has also approved the proposed combination involving the acquisition of certain equity shares and special rights in Niva Bupa Health Insurance Limited by India Business Excellence Fund – IV.

India Business Excellence Fund-IV is a category II Alternative Investment Fund registered with the Securities and Exchange Board of India and primarily invests in equity and equity-linked instruments.

Niva Bupa Health Insurance Limited is a standalone health insurance company that is engaged in offering insurance policies in the health and travel insurance segment in India.

It underwrites primarily health insurance business which includes health indemnity, health fixed benefit (hospital cash, personal accident, and critical illness), and travel insurance both to retail and group customers.

The proposed combination relates to the acquisition of certain equity shares upon completion of which the acquirer would have certain special rights in the insurance company.

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