All. High Court Explains ‘Prima Facie Satisfaction’ of Magistrate Before Summoning/Issuing Process  ||  Kar. HC: Self-Acquired Property Thrown in Common Hotchpot Shall be Treated as Joint Family Property  ||  Bom. HC: Candidates Converting to EWS After Striking Down of SEBC Act Ineligible For Age Relaxation  ||  Del. HC: DDA & MCD Must Put Structural Reforms In Place to Deal With Issue of Illegal Construction  ||  Delhi High Court Dismisses Plea Seeking to Block Article Published By The Print on RAW  ||  Supreme Court: Apple Not Responsible to Trace Stolen Iphone Through Unique Identity Number  ||  Del. HC: Mitsubishi Corporation Can’t Deduct TDS on The Amount Not Chargeable to Tax in India  ||  Delhi HC: Prospective Adoptive Parents Can't Demand Their Choice on Which Child to Adopt  ||  Supreme Court: Termination of Woman Nursing Officer on Grounds of Her Marriage is Unconstitutional  ||  Supreme Court: Accused Absolved of Charges Under IPC Can’t Be Charged Under UP Gangsters Act    

CCI approves acquisition of API Holdings Private Limited equity shareholding by CDPQ Private Equity Asia Pte Ltd- (Press Information Bureau) (23 Feb 2021)

MANU/PIBU/0812/2021

MRTP/ Competition Laws

The Competition Commission of India (CCI) approves acquisition by CDPQ Private Equity Asia Pte. Ltd. ('CDPQ/Acquirer') of equity shareholding of API Holdings Private Limited ('API Holdings/Target') under Section 31(1) of the Competition Act, 2002, today.

The combination envisages an acquisition of approximately 2% shareholding in the Target by the Acquirer along with certain additional rights.

The Acquirer is a wholly owned subsidiary of CDPQ and located in Singapore. CDPQ acts as an institutional investor that manages funds primarily for public and para-public pension and insurance plans. CDPQ is a Canadian institutional fund, which manages and serves more than 40 depositors which comprises public and private pension and insurance funds in Quebec.

API Holdings is a company incorporated in India and is the ultimate parent entity of the API Holdings group. API Holdings, either directly or through its subsidiaries, carries out various business activities inter alia including:

(a) wholesale and distribution of drugs (including pharmaceutical products, medical devices and over the counter drugs);

(b) provision of transportation services primarily focused on the pharmaceutical sector;

(c) owning technology and intellectual property for developing e-commerce platforms including marketplaces for facilitating the sale of pharmaceutical products, medical devices and OTC drugs;

(d) manufacturing and marketing of pharmaceutical, ayurvedic and nutraceutical products, medical devices, hygiene products, life-saving medicines, herbal products and food supplements;

(e) operating and providing an online application which provides a business to business ("B2B") order management system for retailers and distributors of pharmaceutical products, medical devices and OTC drugs.

Tags : ACQUISITION   APPROVAL   EQUITY SHAREHOLDING  

Share :        

Disclaimer | Copyright 2024 - All Rights Reserved