The Competition Commission of India has accorded its approval to Sun Life’s acquisition of 23% more stake in Birla Sun Life Insurance (BSLI), which is joint venture between Aditya Birla Nuvo and Sun Life Financial.

CCI said on Monday that “It approves acquisition of additional 23% equity of Birla Sun Life Insurance by Sun Life Financial (India) Insurance Investments.”

It will hike Canada’s Sun Life’s stake in BSLI from 26% to 49%.

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