The Competition Commission of India approved South Africa-based Naspers' proposal to acquire a minority stake in Vastu Housing Finance Corporation Ltd. on Tuesday. Naspers Ventures BV, a subsidiary of global technology investor Prosus NV, plans to purchase less than 10% of Vastu Housing Finance Corporation Ltd. on a fully diluted basis.
Naspers, known for its investment holdings, aims to enhance its portfolio through this acquisition. VHFCL offers home loans, property loans, and micro/SME loans, while its subsidiary, Vastu Finserve India, provides car and commercial vehicle loans.
The CCI's approval is part of its role in overseeing deals that exceed certain thresholds, ensuring fair business practices and competition in the market.
(With PTI Inputs)
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