competition commission of India (CCI) on Tuesday approved the proposed Rs 4,500 crore deal, in which bond A consortium led by Financial Holdings Asset Management and IDFC AMC will buy stake in Trustee. The consortium includes private equity firm Chris Capital and Singapore’s sovereign fund.

The transaction includes acquisition of 99.96 per cent stake in IDFC

and 100 percent stake in IDFC AMC Trustee Company Limited.

The stake will be acquired by Bandhan Financial Holdings Limited, Leith Investments Pte. Ltd., Tangerine Investments Ltd. and Infinity Partners, according to a release.

In April, a consortium led by Bandhan Financial Holding entered into a definitive agreement to acquire IDFC Asset Management Company and IDFC AMC Trustee Company for Rs 4,500 crore.

IDFC AMC is the asset management company of IDFC Mutual Fund which operates a portfolio management business and IDFC Trustees is the trustee company of IDMF. Bandhan Financial Holdings Limited is a wholly owned subsidiary of Bandhan Financial Services Limited and is the promoter of the private sector lender

,

Lathe is wholly owned by Singapore-based GIC Ventures Pvt Ltd and Tangerine Investments is a subsidiary of Chris Capital Group while Infinity Partners is a partnership firm.