CCI nod for Sundaram Finance deal

The Competition Commission of India has approved Sundaram Finance (SFL)’s purchase of remaining equity stake in Sundaram BNP Paribas Home Finance (SBPHFL), a joint venture between SFL and BNP Paribas Personal Finance.

Last month, SFL and BNP Paribas Personal Finance reached an agreement, under which BNP Paribas Personal Finance will sell its entire 49.9 per cent equity stake in SBPHFL to SFL for a consideration of 1,000 crore. SFL already held 50.1 per cent in SBPHFL.