{"id":224105,"date":"2020-01-10T14:30:23","date_gmt":"2020-01-10T09:00:23","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=224105"},"modified":"2020-01-10T17:53:44","modified_gmt":"2020-01-10T12:23:44","slug":"acquisition-by-roc-star-investment-trust-of-equity-share-capital-of-star-health-and-allied-insurance-company-ltd-from-snowdrop-capital-pte-ltd","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/01\/10\/acquisition-by-roc-star-investment-trust-of-equity-share-capital-of-star-health-and-allied-insurance-company-ltd-from-snowdrop-capital-pte-ltd\/","title":{"rendered":"Green Channel combination of ROC Star Investment Trust&#8217;s acquisition of equity of Star Health and Allied Insurance Company Ltd. from Snowdrop Capital PTE Ltd. received by CCI"},"content":{"rendered":"<p style=\"text-align: justify;\">The Competition Commission of India (CCI) received the following <strong>green channel combination<\/strong> filed under sub-section (2) of Section 6 of the Competition Act, 2002 (Act) read with Regulations 5A of the Competition Commission of India (Procedure in regard to the transactions of business relating to combinations) Regulations, 2011 (Combination Regulations):<\/p>\n<p style=\"text-align: justify;\">Acquisition by ROC Star Investment Trust (Acquirer\/ROC) of the equity share capital of Star Health and Allied Insurance Company Limited (Star Health\/Target) from Snowdrop Capital PTE Limited (Proposed Combination).<\/p>\n<p style=\"text-align: justify;\">The notification relates to the acquisition of 2.39% of equity shares of Star Health by ROC Star Investment Trust (acting through its custodian Perpetual Corporate Trust Limited). Post the consummation of the Proposed Combination, ROC will have certain rights including non-control conferring veto rights in Star Health.<\/p>\n<p style=\"text-align: justify;\">Acquirer is an investment vehicle managed by ROC Capital Pty Limited (\u201cROC Capital\u201d), an Australian investment management company.<\/p>\n<p style=\"text-align: justify;\">Target is licensed as a general insurer by the Insurance Regulatory Development Authority of India (IRDA) to carry on the business of general insurance. It is currently engaged in the business of health insurance and deals in personal accident, medi-claim as well as in overseas travel insurance.<\/p>\n<hr \/>\n<p><strong>Ministry of Corporate Affairs<\/strong><\/p>\n<p style=\"text-align: right;\"><span style=\"color: #008000;\"><strong>[Press Release dt. 10-01-2020]<\/strong><\/span><\/p>\n<p style=\"text-align: right;\"><span style=\"color: #008000;\"><strong>[Source: PIB]<\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Competition Commission of India (CCI) received the following green channel combination filed under sub-section (2) of Section 6 of the Competition <\/p>\n","protected":false},"author":8808,"featured_media":222180,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8051,2],"tags":[15971,39225,38953,39224],"class_list":["post-224105","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business_news","category-news","tag-acquisition","tag-equity-share-capital","tag-green-channel-combinations","tag-insurance-regulatory-development-authority-of-india"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Green Channel combination of ROC Star Investment Trust&#039;s acquisition of equity of Star Health and Allied Insurance Company Ltd. from Snowdrop Capital PTE Ltd. received by CCI | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, 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the acquisition of a shareholding in GMR Airports Limited (\u201cGAL\u201d) by TRIL Urban Transport Private Limited (\u201cTUTPL\u201d), Valkyrie Investment Pte. Ltd. (\u201cValkyrie\u201d) and Solis Capital (Singapore) Pte. Limited (\u201cSolis\u201d) under Section 31(1) of the Competition Act, 2002. The proposed combination relates to the acquisition of up to 55.2%\u2026","rel":"","context":"In &quot;Business News&quot;","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":223442,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/12\/21\/three-combinations-get-automatic-approval-under-cci-green-channel\/","url_meta":{"origin":224105,"position":1},"title":"Three combinations get automatic approval under CCI Green Channel","author":"Bhumika Indulia","date":"December 21, 2019","format":false,"excerpt":"The Competition Commission of India (CCI)\u00a0received the following three Green Channel combinations filed under sub-section (2) of Section 6 of the Competition Act, 2002 (Act) read with Regulation 5A of the Competition Commission of India (Procedure in regard to the transactions of business relating to combinations) Regulations, 2011 (Combination Regulations):\u2026","rel":"","context":"In &quot;Business News&quot;","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":221480,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/10\/25\/cci-approves-acquisition-of-shareholding-in-aditya-birla-capital-ltd-by-jomei-investments-ltd\/","url_meta":{"origin":224105,"position":2},"title":"CCI approves acquisition of shareholding in Aditya Birla Capital Ltd. by Jomei Investments Ltd.","author":"Bhumika Indulia","date":"October 25, 2019","format":false,"excerpt":"CCI approves acquisition of 4.15% of the shareholding in Aditya Birla Capital Limited by Jomei Investments Ltd. of Combination under Section 31(1) of the Competition Act, 2002 The Competition Commission of India (CCI) approved acquisition of 4.15% of the shareholding in Aditya Birla Capital Limited (ABCL) by Jomei Investments Limited\u2026","rel":"","context":"In &quot;Business News&quot;","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":256094,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/10\/27\/cci-gives-approval-for-acquisition-of-shareholding-in-hdfc-ergo-general-insurance-co-ltd\/","url_meta":{"origin":224105,"position":3},"title":"Mergers &#038; Acquisitions (M&#038;A) | CCI gives approval for acquisition of shareholding in HDFC Ergo General Insurance Co. Ltd. by HDFC Bank Ltd.","author":"Bhumika Indulia","date":"October 27, 2021","format":false,"excerpt":"Acquisition approval by Competition Commission of India\u00a0 The Competition Commission of India (CCI) approves acquisition by HDFC Bank Limited (Acquirer) of shareholding in HDFC ERGO General Insurance Company Limited (Target) under Section 31(1) of the Competition Act, 2002. The Proposed Combination involves acquisition of 4.99% of the outstanding equity share\u2026","rel":"","context":"In &quot;Business News&quot;","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-2.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-2.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-2.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-2.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-2.png?resize=1050%2C600&ssl=1 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