Acquisition cleared under Green Channel

Australia’s ROC Star Investment Trust has received approval to acquire 2.39% equity share capital of Chennai-based Star Health and Allied Insurance Company Limited.

The Competition Commission of India (CCI) said it is acquisition proposal is deemed approved under the Green Channel application.

ROC is acquiring the stake from Singapore’s Snowdrop Capital (Proposed Combination).

Acquirer is an investment vehicle managed by ROC Capital Pty Limited (ROC Capital), an Australian investment management company.

Star Health is currently engaged in the business of health insurance and deals in personal accident, medi-claim as well as in overseas travel insurance.

[Filling under sub-section (2) of Section 6 of the Act read with regulations 5A of the Combination Regulations (i.e. notice for approval of the Proposed Combination under Green Channel) shall be deemed to have been approved upon filing and acknowledgement thereof], said CCI on 10 Jan 2020. fiinews.com