CCI approves acquisition of 6.5% stake by General Atlantic Group in PNB Housing Finance
9th May 2019

The Competition Commission of India (CCI) has given an approval for the acquisition of 6.5% stake by General Atlantic Group in PNB Housing Finance.

Punjab National Bank (PNB) in March had said that it will sell 6.5% of its stake in PNB Housing Finance to General Atlantic Group. PNB had entered into agreement for sale of 1,08,91,733 equity shares held in PNB Housing Finance to General Atlantic Group at Rs 850 per share for Rs 925.80 crore.

PNB Housing Finance is a registered housing finance company with National Housing Bank (NHB). They provide housing loans to individuals and corporate bodies for construction, purchase, repair and up-gradation of houses.