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India: CCI approves IndusInd Bank acquisition

By  |  July 1, 2015

IndusInd Bank has received Competition Commission’s approval for the acquisition of Royal Bank of Scotland’s gems and jewellery financing business in the country.

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    Giving its clearance, the fair trade regulator said the proposed deal is “not likely to have an appreciable adverse effect on competition in India”.

    In the present case, Competition Commission of India (CCI) considered bouquet of banking services to the customers engaged in gem and jewellery business as a relevant product market.

    IndusInd Bank has 801 branches in India while RBS has 10 branches, according to the CCI order.

    “Post combination, the market share of the acquirer would not be significant so as to cause an appreciable adverse effect on competition in the relevant market.

    Full content: The Economic Times

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