Competition Commission of India has approved the proposed acquisition of a controlling stake in Sammaan Capital (NSE:SAMMAANCAP, BOM:535789) by Avenir Investment RSC, which is owned and controlled by Abu Dhabi's International Holding Company (IHC), according to a Wednesday filing to the Indian stock exchanges.
In October, IHC had agreed to acquire a 43.5% per cent stake in Sammaan Capital for an investment of $1 billion.
Sammaan Capital is an non-deposit-taking non-banking financial company.
The company's shares were up nearly 2% in recent trade.