The Competition Commission of India (CCI) has approved the acquisition of certain shareholding in Shriram Life Insurance Company Limited by Sanlam Emerging Markets (Mauritius) Ltd.
The acquisition involves 2.80% of the expanded equity capital of Shriram Life Insurance Company Limited (SLIC)
The acquisition will be executed through a preferential issue by Sanlam Emerging Markets (Mauritius) Ltd. (SEMM)
Sanlam Emerging Markets (Mauritius) Ltd. is incorporated in Mauritius
SEMM is part of Sanlam Group of South Africa
SEMM is a strategic partner of Shriram Group
SEMM has investments in India in various Shriram Group entities
Shriram Life Insurance Company Limited is a life insurance company registered with IRDAI
SLIC is engaged in the business of effecting contracts of insurance upon human life
SLIC develops and markets a variety of products in the life insurance business
SLIC offers unit-linked life insurance products
SLIC conducts activities within the ambit of provisions of Insurance Act, 1938
