<p>Competition Commission of India (CCI) on Monday approved purchase of stake in Hero FinCorp Ltd by a Singapore-based company, which is an affiliate of Apollo Global Management.</p>.<p>AHVF II Holdings Singapore II Pte. Ltd will buy certain compulsorily convertible preference shares of Hero FinCorp Ltd.</p>.<p>In a release on Monday, CCI said it has approved the proposed deal.</p>.<p>The proposed combination relates to the subscription of certain compulsorily convertible preference shares of Hero FinCorp by AHVF II and upon conversion, it will represent a certain shareholding in the company, according to an official release.</p>.<p>Hero FinCorp is the lending arm of the Hero Group.</p>.<p>The acquirer is owned by investment funds managed by affiliates of Apollo Management, L.P. Apollo Management, L.P., its affiliates, and investment funds managed by its affiliates.</p>.<p>Investment funds managed by affiliates of Apollo invest in companies and debt issued by companies involved in various businesses.</p>.<p>Deals beyond the threshold require the approval of CCI, which keeps a tab on unfair business practices in the marketplace.</p>.<p><strong>Check out latest DH videos here</strong></p>
<p>Competition Commission of India (CCI) on Monday approved purchase of stake in Hero FinCorp Ltd by a Singapore-based company, which is an affiliate of Apollo Global Management.</p>.<p>AHVF II Holdings Singapore II Pte. Ltd will buy certain compulsorily convertible preference shares of Hero FinCorp Ltd.</p>.<p>In a release on Monday, CCI said it has approved the proposed deal.</p>.<p>The proposed combination relates to the subscription of certain compulsorily convertible preference shares of Hero FinCorp by AHVF II and upon conversion, it will represent a certain shareholding in the company, according to an official release.</p>.<p>Hero FinCorp is the lending arm of the Hero Group.</p>.<p>The acquirer is owned by investment funds managed by affiliates of Apollo Management, L.P. Apollo Management, L.P., its affiliates, and investment funds managed by its affiliates.</p>.<p>Investment funds managed by affiliates of Apollo invest in companies and debt issued by companies involved in various businesses.</p>.<p>Deals beyond the threshold require the approval of CCI, which keeps a tab on unfair business practices in the marketplace.</p>.<p><strong>Check out latest DH videos here</strong></p>