CCI clears PNB Housing Finance take care of Carlyle

The Competition Commission of India (CCI) has accorded “deemed approval” to a proposal of Carlyle-backed Pluto Investments and Salisbury Investments to choose up a majority stake in PNB Housing Finance (PNBHF), even because the Securities Appellate Tribunal (SAT) is but to ship its judgment on the deal.
In a discover reviewed by FE, the CCI stated: “The proposed combination involves Pluto and Salisbury acquiring up to approximately 56.29 per cent (assuming full tendering and acceptance in the mandatory open offer) and approximately 0.24 per cent of the post-preferential allotment equity share capital of PNBHF.”
While the deal worth isn’t talked about within the discover, PNBHF board had earlier accepted a proposal to lift as much as Rs 4,000 crore by issuing fairness shares and convertible warrants to entities led by Carlyle group companies. In an announcement, the Corporate Affairs Ministry stated the CCI obtained a discover on the deal underneath the “Green Channel”. —FE