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Provider: Thomson Reuters Stock Report
Provider: Wright Reports
Provider: IndiaNivesh Securities Pvt Ltd
Provider: IndiaNivesh Securities Pvt Ltd

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Exide Industries Ltd Gets CCI Nod For Stake Buy In ING Vysya Life Insurance-Business Standard

Thursday, 21 Feb 2013 08:42am EST 

Business Standard reported that fair trade regulator CCI has given the green signal to battery maker Exide Industries Ltd's proposal to fully acquire ING Vysya Life Insurance Company, saying the deal will not adversely impact competition. Exide which presently has a 50 per cent stake in the life insurance company would pick up the remaining holding from ING International and the Indian shareholders. As of now, Netherland-based ING International holds 26% stake in ING Life, while 24% is held by certain Indian shareholders. Exide has proposed to pay about INR5.5 billion for 50% stake, thereby valuing ING Vysya Life at about INR11 billion The battery maker had approached CCI for approval on January 29, 2013. 

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3.85 +2.47%
23 Oct 2014