The Competition Commission of India cleared two major corporate transactions on the same day. It approved the amalgamation of Go Digit Infoworks Services with Go Digit General Insurance, removing the holding company layer from the insurer’s structure. It also gave the go-ahead to Brookfield Asset Management’s acquisition of units in two Oaktree Capital Group entities, deepening the Canadian firm’s control over the alternative investment manager.
CCI Clears Two Deals in a Single Day
On 28 July 2026, the Competition Commission of India (CCI) announced the approval of two separate but significant corporate proposals. In the first, the CCI allowed the amalgamation of Go Digit Infoworks Services Private Limited, the holding company of Go Digit General Insurance Limited, with the insurer itself, with Go Digit General Insurance remaining as the surviving entity. In the second, it approved the acquisition of units of Oaktree Capital Group Holdings, LP (OCGH) and Oaktree Equity Plan, LP (OEP) by Brookfield Asset Management Ltd (BAM).
Both approvals fall under the CCI’s mandate to review combinations and acquisitions that could have an appreciable adverse effect on competition in India. The detailed orders for both transactions will follow separately.
Go Digit: Removing the Holding Company Layer
The amalgamation of Go Digit Infoworks Services with Go Digit General Insurance was first announced in December 2025, when the board of the listed insurer approved the scheme. The transaction is notable because it is the first merger of an insurance company with a non-insurance holding company after amendments to insurance laws permitted such transactions.
Under the scheme, Go Digit Infoworks Services will cease to exist as a separate entity. Shareholders of the holding company will receive equity shares in Go Digit General Insurance based on a fixed exchange ratio determined through an independent valuation report. No cash will change hands. After the merger, the promoter shareholding is expected to increase marginally from 72.17% to 72.2% on a fully diluted basis. Equity shares worth around ₹43 crore will be issued at an issue price of ₹375.1 per share.
The deal is expected to reduce compliance and administrative costs by removing the intermediate holding company structure. It also aligns with the insurance regulator’s objective of encouraging simpler and more transparent ownership structures. The company has clarified that the merger will not alter its management or governance. The chairman, Kamesh Goyal, noted that the transaction creates a direct alignment between the insurer and its promoters while moving to a leaner corporate structure.
About Go Digit General Insurance
Go Digit General Insurance is a digital-first general insurance provider in India. It was founded in 2016 by Kamesh Goyal, a veteran insurance professional. The company offers a range of products including car, bike, health, travel, and home insurance through a technology-driven platform.
The company went public in May 2024, listing on the National Stock Exchange (NSE) and BSE at a price of ₹272 per share. Prominent investors in the company include cricketer Virat Kohli and his wife Anushka Sharma. The Fairfax group, led by Canadian investor Prem Watsa, is the majority stakeholder through its Mauritius-based entity FAL Corporation, which will hold a 57.28% stake in the merged entity.
Fairfax Financial Holdings, founded in 1985 by Prem Watsa, is a Canadian multinational holding company primarily engaged in property and casualty insurance and reinsurance. It has a significant presence in India through its investments in various financial services firms, including Go Digit and CSB Bank (formerly Catholic Syrian Bank).
Brookfield Deepens Its Hold on Oaktree
The CCI also approved the indirect acquisition of units in two Oaktree Capital Group entities by Brookfield Asset Management Ltd (BAM). The transaction involves the acquisition of units of Oaktree Capital Group Holdings, LP (OCGH) and Oaktree Equity Plan, LP (OEP). Through this, BAM will gain control over the Oaktree operating group of entities.
This clearance is part of a larger, multi-stage process. Brookfield first acquired a 62% majority stake in Oaktree in 2019 for approximately $4.8 billion. In October 2025, it announced a deal to acquire the remaining roughly 26% interest that it did not already own, in a transaction valued at about $3 billion. The current CCI approval relates to the acquisition of specific partnership units as part of this final phase of consolidation.
About Brookfield Asset Management
Brookfield Asset Management is a global alternative asset manager headquartered in New York. It was founded in 1899 as a Brazilian electric utility company and later transformed into a Canadian investment firm. It manages over $1 trillion in assets across real estate, infrastructure, renewable power, private equity, and credit. The company is controlled by Brookfield Corporation (BN), a publicly listed entity led by CEO Bruce Flatt.
About Oaktree Capital Management
Oaktree Capital Management is a global investment firm specializing in alternative investments, particularly distressed debt, private equity, and credit. It was founded in April 1995 by Howard Marks and Bruce Karsh and is headquartered in Los Angeles, California. The firm has $224 billion in assets under management as of March 2026. Howard Marks is widely known for his investment memos and his value-oriented, risk-controlled investment philosophy.
The Competition Commission of India and Its Role
The Competition Commission of India (CCI) is the statutory regulator responsible for enforcing the Competition Act, 2002. It was established in 2003, though it became fully functional only in 2009. The CCI is headquartered in New Delhi and consists of a Chairperson and six Members.
The CCI’s primary mandate is to prevent practices that have an adverse effect on competition in India. It does this through three main functions:
| Function | Description |
|---|---|
| Anti-competitive agreements | Prohibits agreements between enterprises that cause or are likely to cause an appreciable adverse effect on competition |
| Abuse of dominant position | Prevents dominant firms from misusing their market position |
| Combination regulation | Reviews mergers, acquisitions, and amalgamations that cross certain asset or turnover thresholds |
The Competition (Amendment) Act, 2023 introduced significant changes to the framework, including a deal value threshold of ₹2,000 crore for notifying combinations, reduced review timelines from 210 to 150 days, and stricter penalties for anti-competitive conduct. These changes made the CCI’s review process faster and brought more transactions under its purview.
In financial year 2025-26, the CCI reviewed and approved a large number of combination applications, reflecting India’s growing merger and acquisition activity.
Key Takeaways
- The CCI approved the amalgamation of Go Digit Infoworks Services (holding company) with Go Digit General Insurance (surviving entity) and Brookfield’s acquisition of Oaktree units on 28 July 2026.
- The Go Digit merger is the first merger of an insurance company with a non-insurance holding company after amendments to insurance laws permitted such transactions.
- After the merger, the Fairfax group, through its entity FAL Corporation, will hold a 57.28% stake in the merged entity.
- Go Digit General Insurance was founded in 2016 by Kamesh Goyal and listed on the NSE and BSE in May 2024.
- Brookfield Asset Management, with over $1 trillion in assets under management, first acquired a 62% stake in Oaktree Capital Management in 2019 and is now consolidating full control.
- Oaktree Capital Management was founded in 1995 by Howard Marks and Bruce Karsh, is headquartered in Los Angeles, and manages $224 billion in assets.
- The CCI is a statutory body established under the Competition Act, 2002, and became fully functional in 2009, with headquarters in New Delhi.
