South Africa's Naspers gets CCI clearance to buy minority stake in Vastu Housing Finance

The Competition Commission of India (CCI) has approved South Africa-based Naspers' proposal to acquire a minority stake in Vastu Housing Finance Corporation Ltd. Naspers Ventures BV, an indirect and wholly-owned subsidiary of Prosus NV, plans to acquire less than 10% equity shareholding in VHFCL. VHFCL provides home loans, loans against property, and micro/MSME loans, while its subsidiary, Vastu Finserve India, offers car loans and commercial vehicle loans. This deal required approval from the regulator, CCI, which oversees fair business practices and competition in the marketplace.