The regulator also cleared Claypond Capital Partners' proposal to acquire certain Class B compulsorily convertible preference shares of API Holdings from MEMG LLP.
The Competition Commission of India approved the joint acquisition of stakes in digital healthcare platform API Holdings by wealth management entity 360 One and Claypond Capital Partners. API Holdings offers healthcare services through subsidiaries including aknamed, Pharmeasy, Docon, Thyrocare, and Retailio.
The proposed transaction involves 360 One acquiring specific Class B compulsorily convertible preference shares of API Holdings from existing shareholder MEMG Family Office LLP.
The regulator also cleared Claypond Capital Partners' proposal to acquire certain Class B compulsorily convertible preference shares of API Holdings from MEMG LLP. MEMG LLP and Claypond Capital provide consulting and advisory services and are part of the Pai Family Group.
"CCI approves the proposed acquisition of certain CCPS B of API Holdings by 360 ONE and Claypond Capital,"
the competition watchdog said in a release.
The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.
Source: NDTV
