CCI vide its order dated May 13, 2015 gave assent to acquisition of Bharti AXA Life Insurance Company Limited (BAL) and Bharti AXA General Insurance Company Limited (BAGI) by AXA India Holdings (AXA)and SociétéBeaujon (SB). The combination proposed an acquisition of additional shares by AXA and SB (directly or through their group companies) in their existing joint venture companies, i.e., BAL and BAGI, respectively (collectively referred to as acquired companies). The acquisition would be made by way of purchase of shares from Bharti Insurance Holdings Private Limited (BIHPL), one of the existing shareholders in the BAL and BAGI. Whereas, AXA group holds 26 per cent shares in each of the Target Companies at present, post combination, it will hold 49 per cent in each of them. The remaining 51 per cent shares in the acquired companies will continue to be held by Bharti group companies. After assessing the facts and information available, CCI approved the proposal under Section 30(1).