CCI Clears Advent International's Stake Acquisition in ABHFL

The Competition Commission of India approved Advent International's acquisition of a 14.3% stake in Aditya Birla Housing Finance Ltd, facilitated by a Rs 2,750 crore capital infusion. Separate approvals were given to Citrus Investment's deal with Hitachi Construction Machinery and to Indus Infra Trust's acquisition of KNR SPVs.

The Competition Commission of India (CCI) has given the green light to Advent International's proposal to acquire a 14.3% stake in Aditya Birla Housing Finance Ltd (ABHFL). This move comes after Aditya Birla Capital and its housing finance subsidiary approved a significant primary capital infusion worth Rs 2,750 crore.

The approved acquisition will see Advent International, through its entity Indriya Ltd, securing equity shares via a preferential issue, making up 14.286% of ABHFL's post-issue paid-up equity share capital. With CCI's nod, ABHFL's valuation post-transaction stands at Rs 19,250 crore.

In other business moves, CCI also sanctioned Citrus Investment's incremental shareholding in Hitachi Construction Machinery and endorsed the complete acquisition of KNR SPVs by Indus Infra Trust. These transactions highlight CCI's role in supervising major business undertakings, ensuring competition is fair across sectors.

(With inputs from agencies.)