New Delhi, The Competition Commission of India (CCI) on Thursday approved the acquisition of 10 per cent stake in Yes Bank Limited by CA Basque Investments.

The proposed combination pertains to CA Basque acquiring up to 10 per cent of the total paid up share capital and voting rights of Yes Bank, by way of subscription to equity shares and warrants.

CA Basque is a newly-formed special purpose vehicle (incorporated in the Mauritius), and is fully owned by CA Marans Investments (Mauritius), which is ultimately controlled by the funds managed by the affiliates of The Carlyle Group Inc.

It is an investment holding entity and does not have any business activities in India.

The Carlyle Group Inc is a global investment firm, which manages funds that invest globally across three investment disciplines -- global private equity (including corporate private equity, real estate, and natural resources funds); global credit (including liquid credit, illiquid credit, and real assets credit); and global investment solutions.

Yes Bank is a banking company engaged in providing a wide range of banking and financial services offerings, catering to retail, micro, small and medium enterprises as well as corporate clients.