The Competition Commission of India (CCI) has approved the acquisition of certain equity share capital in IndiaFirst Life Insurance Company Limited by BNP Paribas Cardif.

The proposed combination relates to the acquisition of certain equity share capital in IndiaFirst Life Insurance Company Limited (Target) by BNP Paribas Cardif (Acquirer).

The Acquirer is a company incorporated in France and is a wholly owned subsidiary of BNP Paribas SA (BNP Paribas). BNP Paribas is a publicly listed company which offers solutions for corporate and institutional banking, commercial, personal banking and services, and investment and protection services. In India, BNP Paribas, together with its affiliates, offers a wide range of financial and advisory services.

The Target is an IRDAI-licensed insurer incorporated in India and is engaged in the provision of life insurance in India.

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SR/ONP

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