Central Bank gets CCI’s nod to acquire additional stakes in GCICL, GCLICL
Upon completion of the proposed acquisition, the Bank’s shareholding in GCICL and GCLICL will increase from the existing level of 24.91% and 25.18% respectively to 26%.
Competition Commission of India (CCI) has approved the proposed combination related to acquisition of 1.09% additional equity in Generali Central Insurance Company (GCICL) and 0.82% additional equity in Generali Central Life Insurance Company (GCLICL) by Central Bank of India.
Upon completion of the proposed acquisition, the Bank’s shareholding in GCICL and GCLICL will increase from the existing level of 24.91% and 25.18% respectively to 26%.
Central Bank of India is a commercial bank. The bank’s segments include Treasury Operations, Corporate/Wholesale Banking, Retail Banking and other Banking business.
