<p class="title">The Competition Commission has approved the acquisition of Sundaram BNP Paribas Home Finance Ltd (SBPHFL) by non-banking finance company Sundaram Finance.</p>.<p class="bodytext">SBPHFL is a joint venture between SFL and BNP Paribas Personal Finance, wherein SFL holds a 50.1 per cent stake.</p>.<p class="bodytext">Last month, SFL had announced to acquire BNP Paribas Personal Finance's remaining 49.9 per cent stake in SBPHFL for about Rs 999.66 crore.</p>.<p class="bodytext">After the acquisition, SBPHFL would become a wholly-owned subsidiary of SFL.</p>.<p class="bodytext">"Competition Commission of India approves the acquisition of SBPHFL by SFL," the fair trade regulator said in a tweet on July 27.</p>.<p class="bodytext">According to a notice submitted to CCI, SBPHFL is a housing finance company registered with the National Housing Bank. It is engaged in the business of providing long-term finance to individuals/corporates for construction /acquisition of residential dwelling units.</p>.<p class="bodytext">SFL is a Chennai-based NBFC primarily engaged in financing the purchase of commercial vehicles, cars, construction equipment, and tractors while BNP Paribas Personal Finance is a wholly-owned subsidiary of BNP Paribas, SA (BNPP).</p>.<p class="bodytext">BNPP is a leading European bank present in India through its branches in eight key cities.</p>
<p class="title">The Competition Commission has approved the acquisition of Sundaram BNP Paribas Home Finance Ltd (SBPHFL) by non-banking finance company Sundaram Finance.</p>.<p class="bodytext">SBPHFL is a joint venture between SFL and BNP Paribas Personal Finance, wherein SFL holds a 50.1 per cent stake.</p>.<p class="bodytext">Last month, SFL had announced to acquire BNP Paribas Personal Finance's remaining 49.9 per cent stake in SBPHFL for about Rs 999.66 crore.</p>.<p class="bodytext">After the acquisition, SBPHFL would become a wholly-owned subsidiary of SFL.</p>.<p class="bodytext">"Competition Commission of India approves the acquisition of SBPHFL by SFL," the fair trade regulator said in a tweet on July 27.</p>.<p class="bodytext">According to a notice submitted to CCI, SBPHFL is a housing finance company registered with the National Housing Bank. It is engaged in the business of providing long-term finance to individuals/corporates for construction /acquisition of residential dwelling units.</p>.<p class="bodytext">SFL is a Chennai-based NBFC primarily engaged in financing the purchase of commercial vehicles, cars, construction equipment, and tractors while BNP Paribas Personal Finance is a wholly-owned subsidiary of BNP Paribas, SA (BNPP).</p>.<p class="bodytext">BNPP is a leading European bank present in India through its branches in eight key cities.</p>