<ul><li>The Competition Commission of India cleared the proposal of Patanjali Ayurved and five other entities to acquire a majority stake in Magma General Insurance.</li><li>Patanjali, along with Dharampal Satyapal Group, will acquire Magma General Insurance at a valuation of Rs 4,500 crore.</li><li>The green channel route was used for the approval, as the transaction was deemed to have no adverse effect on competition.</li><li>Patanjali aims to diversify its portfolio with this investment and capitalize on the growth potential within India's underpenetrated general insurance market.</li></ul>

CCI Clears Patanjali Bid To Buy Adar Poonawalla-Backed Magma General Insurance

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