CCI clears MetLife’s acquisition of additional PNB MetLife stake

New Delhi: MetLife International Holdings' acquisition of an additional 0.5% stake in PNB MetLife India Insurance was notified under the competition regulator's green channel route on Monday.

The global insurer has taken over 10,247,348 shares, representing 0.5% of PNB MetLife, from Jammu & Kashmir Bank.

The transaction will raise the company's holding from about 49.73% to 50.23% but will not alter PNB MetLife's existing framework of joint control arrangement, a filing before the Competition Commission of India said.