HDFC CCI approves merger of HDFC Bank with HDC Ltd
The Competition Commission of India (CCI) has approved the merger of HDFC Bank with its parent HDFC Ltd.
The first step involves the merger of HDFC Holdings and HDFC Investments with HDFC Ltd and in the second step merger of HDFC Ltd with HDFC Bank.
In a tweet on Friday, CCI said it has approved the "proposed combination involving the amalgamation of HDFC Limited, HDFC Bank, HDFC Investments, and HDFC Holdings."
Commission approves proposed combination involving amalgamation of HDFC Limited, HDFC Bank, HDFC Investments and HDFC Holdings pic.twitter.com/C4hoxUiayb
— CCI (@CCI_India) August 12, 2022
HDFC Ltd, which is India's largest housing finance company, announced in April that it will merge with HDFC Bank.
The approval of the competition watchdog was necessitated as deals beyond a certain threshold require examination by CCI.
