CCI approves Go Digit Infoworks merger with insurance arm
Business
The Competition Commission of India just gave the green light for Go Digit Infoworks Services to merge with its insurance arm, Go Digit General Insurance.
Basically, the parent company (which didn't deal directly with customers) is folding into its insurance business, so now, only Go Digit General Insurance will remain.
FAL Corporation to hold 57.28% stake
After the merger, FAL Corporation from Canada's Fairfax Group (led by billionaire Prem Watsa) will own a majority 57.28% stake in Go Digit General Insurance.
Fairfax is pretty well known for its work in insurance and investments.
The approval also came on a day when Brookfield's acquisition of Oaktree units also got the regulator's nod.