Aviva International Holdings Limited
A compact analysis
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Aviva International Holdings Limited St Helen’s 1 Undershaft London EC3P 3DQ
ANNEXURE 5.10
Summary of the Proposal under sub-regulation (1A) of Regulation 13 of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 as amended
- A. Name of the Parties to the Combination
- The names of the parties to the combination are:
- a. Aviva International Holdings Limited ( Aviva / Acquirer );
- b. Aviva Life Insurance Company India Limited ( Aviva India / Target )
Together, Aviva and Aviva India are referred to as the Parties .
- B. Nature and Purpose of the Combination
- The proposed combination is an ‘acquisition of shares’ of an additional 25% of the issued and paid-up equity share capital of the Target by the Acquirer / Aviva from its existing joint venture partner, Dabur Invest Corp ( Dabur ) ( Proposed Transaction ) pursuant to increase in permissible foreign investment limit in the insurance sector to 74% from 49%. After completion of the Proposed Transaction, Aviva will become the majority shareholder of Aviva India, holding 74% of its equity share capital.
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