The Competition Commission of India has approved the acquisition of certain shareholding of Sammaan Capital Limited (SCL/Target) by Avenir Investment RSC Ltd. (Avenir/Acquirer).

The ‘Proposed Combination’ involves the acquisition of certain shareholding in the Target by the Acquirer.

The Acquirer is a special purpose vehicle incorporated for the purpose of the Proposed Combination. It belongs to the IHC group. International Holding Company PJSC (IHC) is a public shareholding company incorporated in Abu Dhabi. It manages a portfolio of domestic and foreign investments in various sectors, including but not limited to finance, healthcare, real estate, renewable energy, manufacturing and retail and leisure.

The Target is registered with RBI as a non-deposit taking non-banking financial company – investment and credit company (upper layer) which provides services such as retail loans to individuals for construction, purchase, or renovation of residential or commercial property; wholesale loans to corporates for construction of residential or commercial projects; loans to individuals, medium, small, and micro enterprises (MSMEs), and corporates for business purposes; lease rental discounting facilities; as well as investments, financing, asset management services, distribution of insurance products and such other lending or allied financial activities. It is also engaged in the business of lending/investments directly/indirectly through different structures including the purchase and sale of loans, investments, and properties.

Detailed order of the Commission will follow.

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NB/PK

(रिलीज़ आईडी: 2201086) आगंतुक पटल : 321