CCI approves proposed subscription of Compulsorily Convertible Preference Shares (B) (CCPS B) in API Holdings Ltd. by CDPQ Private Equity Asia Pte Ltd.

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..... CCI approves proposed subscription of Compulsorily Convertible Preference Shares (B) (CCPS B) in API Holdings Ltd. by CDPQ Private Equity Asia Pte Ltd.
News and Press Release
Dated:- 31-1-2024

The Competition Commission of India (CCI) has approved proposed subscription of CCPS B in API Holdings Ltd. by CDPQ Private Equity Asia Pte Ltd. CDPQ Private Equity Asia Pte Ltd (Acquirer) is .....

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..... a direct wholly owned subsidiary of CDPQ and is located in Singapore. CDPQ is a Canadian institutional fund, which acts as a long-term institutional investor that manages funds primarily for public and para-public pension and insurance plans in Canada. The Acquirer, CDPQ and their affiliates are collectively referred to as the 'Acquirer Group'. API Holdings Ltd. (Target), through its subsidiaries .....

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..... , is engaged in operating business relating to healthcare services such as (i) an online e-commerce marketplace through a mobile application as well as a website called 'PharmEasy'; (ii) B2B (i.e., wholesale) sale and purchase of pharmaceutical and nutraceutical products and also undertakes activities of warehousing, storing and packaging of such products; and (iii) providing diagnostic and health .....

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..... care services to customers, directly, through the laboratories/collection centers owned and operated by it or through partner laboratories/collection centers through subcontracting arrangements with third parties. The Target proposes to raise capital through issuance of CCPS B by way of a Rights Issue. The Acquirer is an existing investor in the Target and is a pre-emption right holder. The Acqui .....

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..... rer shall subscribe to the Rights Issue by way of a primary subscription accompanied with certain rights. (Proposed Combination). Detailed order of the CCI will follow.
News - Press release - PIB .....

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