General Atlantic gets CCI nod for increased Acko Tech stake
ECONOMY & POLICY

General Atlantic gets CCI nod for increased Acko Tech stake

The acquisition of an additional stake in Acko Tech by General Atlantic has been approved by the Competition Commission of India (CCI).

According to the proposed combination, General Atlantic Singapore ACK (GASACK), an investment holding company held by funds or vehicles controlled by General Atlantic, plans to acquire an additional 4.04% shareholding of Acko Technology and Services (Acko Tech).

Acko Tech is involved in the business of offering general (non-life) insurance through its subsidiary, Acko General Insurance (Acko GI).

The Commission has granted approval for the proposed combination, provided that GASACK and GAP Bermuda, L.P. comply with the modifications jointly submitted by them under Regulation 19 (2) of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011.

Also read:
Rs 2.57 billion order secured by GOCL Corporation from Coal India
ICRA forecasts a growth of 5-5.5% in the total power demand for FY24


The acquisition of an additional stake in Acko Tech by General Atlantic has been approved by the Competition Commission of India (CCI). According to the proposed combination, General Atlantic Singapore ACK (GASACK), an investment holding company held by funds or vehicles controlled by General Atlantic, plans to acquire an additional 4.04% shareholding of Acko Technology and Services (Acko Tech). Acko Tech is involved in the business of offering general (non-life) insurance through its subsidiary, Acko General Insurance (Acko GI). The Commission has granted approval for the proposed combination, provided that GASACK and GAP Bermuda, L.P. comply with the modifications jointly submitted by them under Regulation 19 (2) of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011. Also read: Rs 2.57 billion order secured by GOCL Corporation from Coal India ICRA forecasts a growth of 5-5.5% in the total power demand for FY24

Next Story
Infrastructure Transport

GMDA Plans New Bus Terminal near Millennium Metro Station

The GMDA is reportedly planning to develop a new bus terminal in Sector 29 to enhance the city's public transport infrastructure and improve connectivity for commuters. The metropolitan authority is expected to discuss the matter in an upcoming meeting with the Haryana chief secretary this week. It has been revealed that approximately three acres of land have been identified for the project. However, the land is currently held by the transport department, and the GMDA is seeking its transfer in order to proceed with the plan. If the GMDA's proposal is approved, the bus terminal will be locate..

Next Story
Infrastructure Urban

India, Norway Forge Ties, Plan to Launch Startup Bridge

Union Commerce and Industry Minister Piyush Goyal proposed on Sunday the launch of a startup bridge between Norway and India, as the two countries explored ways to strengthen their trade relations. Norwegian Ambassador to India, May-Elin Stener, suggested that the initiative could be launched during the Indo-Nordic summit next year. While addressing the India-Norway Business Forum, organised by the Confederation of Indian Industry (CII) in collaboration with the Department for Promotion of Industry and Internal Trade (DPIIT), Goyal committed to working collectively with the relevant ministrie..

Next Story
Infrastructure Urban

PLI Schemes Have Led To Investments of Over Rs 1.25 Trillion

Prime Minister Narendra Modi stated on Monday that India's Production Linked Incentive (PLI) schemes have attracted investments of over Rs 1.25 trillion. While speaking at the Rising Rajasthan Global Investment Summit 2024, he highlighted that the role of the PLI scheme in boosting manufacturing in India is growing. PM Modi mentioned that there is considerable enthusiasm in sectors such as electronics, specialty steel, automobiles and auto components, solar, and pharmaceuticals. He further noted that investments of approximately Rs 1.25 trillion have been made due to the PLI scheme, with prod..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000