CCI clears General Atlantic's acquisition of addl stake in Acko Tech
The Competition Commission of India (CCI) on Tuesday approved US-based General Atlantic's proposal to acquire an additional stake in insurtech firm Acko Technology & Services Pvt Ltd.
The Competition Commission of India (CCI) on Tuesday approved US-based General Atlantic's proposal to acquire an additional stake in insurtech firm Acko Technology & Services Pvt Ltd.
Private equity firm General Atlantic is acquiring additional shares in Acko Tech through its affiliate General Atlantic Singapore ACK Pte Ltd.
The proposed combination involves the acquisition of additional shareholding of Acko Technology & Services Pvt Ltd by General Atlantic Singapore ACK Pte Ltd on a fully diluted basis, crossing the threshold of 25 per cent pursuant to Acko Tech's rights issue, the Competition Commission of India (CCI) said in a release.
