CCI approves acquisition of Aavas Financiers by Aquilo House Pte

Aavas Financiers Limited, an entity newly incorporated and wholly owned by the CVC Network, is set to acquire shares and control over the established Aavas Financiers Limited (Target).

The CVC Network consists of CVC Capital Partners plc. (CVC PLC) and its subsidiaries, which are renowned for their expertise in managing investment funds across various sectors. With CVC PLC being publicly listed on the Euronext Amsterdam Stock Exchange, it stands as a testament to the group’s robust financial backing and international presence.

Details of the Proposed Transaction

The proposed acquisition will be executed through:

1. Share Sale Agreements: These agreements will be executed among the Acquirer, the Target and specific existing promoters or promoter groups of the Target.
2. Mandatory Open Offer: In compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, the Acquirer will conduct a mandatory open offer to ensure a transparent transition of control.