The Competition Commission of India (CCI) has approved Blackstone’s plan to pick up a 9.99% stake in Federal Bank via warrants. The US-based private equity giant will invest through its affiliate, Asia II Topco XIII, which will subscribe to warrants that can be converted into an equal number of fully paid equity shares of Federal Bank, the CCI said in a statement. Once all the warrants are exercised, Asia II Topco XIII will own 9.99% of Federal Bank’s paid-up share capital on a fully diluted basis. Und ...