Fair Trade Regulator Approves Napean's Stake Buy In SBI General Insurance

The Competition Commission of India (CCI) has approved acquisition of shares in SBI General Insurance by Napean Opportunities LLP.

The proposed transaction refers to the acquisition of 16.01 per cent paid-up share capital of SBI General Insurance Company Limited (SBI General Insurance) by Napean Opportunities LLP (Napean).

Napean is a newly incorporated entity and belongs to PI Opportunities Fund-I and Azim Premji Trust.

SBI General Insurance is engaged in the business of providing general insurance products in India.

The insurance products offered include motor, health, personal accident, travel, home, aviation, fire, marine, package, construction and engineering and liability insurance.