The Competition Commission of India (CCI) has granted approval for the joint proposal by Sanlam, a South Africa-based financial services group, and Shriram Credit Company, a part of the Shriram Group, to acquire a stake in Shriram Asset Management Company (SAMC). The deal involves Sanlam Emerging Markets (Mauritius) Ltd (SEMM) subscribing to a 23% equity stake in SAMC, followed by an open offer to acquire up to 26% of SAMC’s shares from the public.