CCI Clears Bajaj Finserv Group's Stake Buy In Insurance JVs From Allianz

The Competition Commission of India has approved the Bajaj group's proposal to acquire Allianz’s stakes in their insurance joint ventures. 
Bajaj Finserv, Bajaj Holdings and Investment, and Jamnalal Sons will acquire a 26% stake each in Bajaj Allianz Life and Bajaj Allianz General Insurance, and the entire 50% stake in Bajaj Allianz Financial Distributors from Allianz SE, the regulator said Tuesday.