The Competition Commission of India (CCI) has approved the proposed acquisition of 16.12% shareholding in Shriram LI Holdings Private Limited by Sanlam Emerging Markets (Mauritius) Limited.

The proposed combination envisages the acquisition of 16.12% shareholding in Shriram LI Holdings Private Limited (SLIH) by Sanlam Emerging Markets (Mauritius) Limited (SEMM) from its existing shareholders.

SLIH is the promoter and holding company of Shriram Life Insurance Company Limited (SLIC). SLIH has a 74.56% stake in SLIC.

SEMM, incorporated in Mauritius, is a 100% subsidiary of Sanlam Limited, South Africa. It is part of the Sanlam Group.

Detailed order of the CCI will follow.

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NB/KMN

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