CCI approves Blackstone's proposal for 9.99% stake in Federal Bank

The Competition Commission of India approved the proposal of Blackstone, the world's largest alternative asset manager, to acquire 9.99% stake through warrants in Federal Bank. The acquisition would be done through Blackstone's arm, Asia II Topco XIII Pte Ltd. Post transaction, Blackstone can nominate a director on Federal Bank's board as long as it holds at least a 5% stake.