CCI Approves Blackstone's Federal Bank Stake, Tata Steel's BlueScope Acquisition

• Competition Commission of India (CCI) cleared US-based Blackstone's proposal to acquire a 9.99% stake in Federal Bank.
• Blackstone's arm Asia II Topco XIII Pte Ltd will acquire the stake through warrants, convertible to equity shares.
• Upon full exercise, Blackstone will hold 9.99% of Federal Bank's paid-up share capital and can nominate a director if holding >= 5%.
• CCI also approved Tata Steel Ltd's acquisition of the remaining 50% equity in Tata BlueScope Steel from BlueScope Steel Asia Holdings Pty Ltd.
• Tata BlueScope Steel is a 50:50 joint venture between BlueScope Steel Ltd and Tata Steel Downstream Products Ltd.

Why It Matters: CCI greenlights major investments: Blackstone in Federal Bank, Tata Steel in Tata BlueScope Steel.