The Competition Commission of India (CCI) has approved the acquisition of 4.15 per cent shareholding in Aditya Birla Capital Limited (ABCL) by Jomei Investments Limited (JIL).
JIL, a special purpose vehicle, is wholly-owned by Advent International GPE IX Limited Partnership, a fund managed by Advent International Corporation.
ABCL is the holding company for the financial services businesses of the Aditya Birla group. Through its subsidiaries and joint ventures, ABCL has a presence across diverse businesses including, non-banking financial sector, asset management, life insurance, housing finance, health insurance, general insurance broking, wealth management, equity, currency and commodity broking, pension fund management and asset reconstruction businesses.