On 03rd June 2025, the Competition Commission of India (CCI) has approved the following proposals:
- Approved New York, United States of America(USA) based Warburg Pincus LLC’s proposal to acquire up to 9.99% of the paid up share capital of Mumbai(Maharashtra) based IDFC First Bank Limited.
- Approved the USD 13.3 billion acquisition of New York-based The Interpublic Group of Companies, Inc.(IPG) by New York-based Omnicom Group Inc.(Omnicom), marking a major consolidation in the global advertising and marketing industry.
CCI allows Warburg Pincus to acquire up to 9.99% in IDFC First Bank
i.The CCI approved the private equity major Warburg Pincus’ proposal to acquire a 9.99% stake in private sector lender IDFC First Bank.
- The clearance was granted to Currant Sea Investments BV, an investment holding company incorporated in the Netherlands, which had approached the regulator for approval in April 2025.
ii.The transaction entails Netherlands-based Currant Sea Investments B.V. subscribing to 81.27 crore compulsorily Convertible Cumulative Preference Shares (CCPS) of IDFC First Bank, which will translate into a stake of up to 9.99% in the bank on a fully diluted basis.
iii.In April 2025, IDFC First Bank announced a Rs.7,500 crore preferential equity issue, with Rs.4,876 crore from Currant Sea Investments B.V. and Rs.2,624 crore from Abu Dhabi Investment Authority (ADIA)’s arm, Platinum Invictus B 2025 RSC.
- Upon full conversion, Warburg Pincus and ADIA will hold a combined 15% stake in the bank.
CCI has approved the proposed acquisition of IPG by Omnicom:
i.The CCI has cleared the proposed acquisition of The IPG by Omnicom in a deal worth around USD 13.3 billion. Announced in December 2024, the merger aims to establish the world’s largest advertising and marketing services company, surpassing existing industry leaders in both revenue and market value.
- Under the Merger Agreement, EXT Subsidiary Inc. (Omnicom Merger Sub) (a wholly owned subsidiary of Omnicom) will be merged with and into IPG.
- Omnicom Merger Sub will cease to exist and IPG will remain the surviving entity as a wholly owned subsidiary of Omnicom (Proposed Combination).
Key Points:
i.Under the terms of the agreement, IPG shareholders will receive 0.344 Omnicom shares for each IPG share they own.
- Post-merger, Omnicom shareholders will own approximately 60.6% of the combined entity, while IPG shareholders will hold about 39.4%.
ii.Omnicom is a global marketing and sales solutions provider with a diverse network offering services.
iii.Omnicom Merger Sub, a Delaware-incorporated subsidiary, was created specifically for the proposed combination.
iv.IPG specializes in media buying/planning, data solutions, integrated advertising, Public Relations (PR), and experiential communications.
About IDFC First Bank Limited:
Managing Director (MD) and Chief Executive Officer (CEO)- V. Vaidyanathan
Headquarters- Mumbai, Maharashtra
Tagline– Always You First
Established -2018
