The Competition Commission of India (CCI) has approved the acquisition of Compulsorily Convertible Preference Shares (CCPS) in Northern Arc Capital Limited (Northern Arc\/Target) by the International Finance Corporation (IFC).<\/p>\n
The Proposed Combination involves the acquisition of fully paid Series C CCPS (\u2018Subscription Shares<\/strong>\u2019) in Northern Arc by IFC. The Subscription Shares represent approximately 6% of the total issued and paid-up share capital of Target on a fully diluted basis along with certain affirmative voting rights and board nomination rights.<\/p>\n IFC, an international organization is a member of the World Bank Group with its own Articles of Agreement, share capital, financial structure, and management. It helps countries achieve sustainable growth by financing private sector investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments.<\/p>\n Northern Arc, an unlisted Non-Banking Financial Company in India, is engaged in catering to the diverse retail credit requirements of under-served households and businesses in India. Its services in the sector include lending, distribution, and asset management services.<\/p>\n","protected":false},"excerpt":{"rendered":" The Competition Commission of India (CCI) has approved the acquisition of Compulsorily Convertible Preference Shares (CCPS) in Northern Arc Capital Limited (Northern Arc\/Target) by the International Finance Corporation (IFC). The Proposed Combination involves the acquisition of fully paid Series C CCPS (\u2018Subscription Shares\u2019) in Northern Arc by IFC. The Subscription Shares represent approximately 6% of …<\/p>\n","protected":false},"author":1,"featured_media":3486,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1314],"class_list":["post-3481","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business-english-news","tag-competition-commission-of-india"],"yoast_head":"\n