CCI approves acquisition by Aceso Company Pte. Ltd. (Aceso) in HCG

The Proposed Combination relates to an acquisition of upto 58.92% stake in HCG by Aceso by way of (i) subscription to equity shares and warrants (representing the right to subscribe to the equity shares).

Jul 16, 2020 08:07 IST India Infoline News Service

The Competition Commission of India (CCI) approves acquisition by Aceso Company Pte. Ltd. (Aceso) in HealthCare Global Enterprises Limited (HCG), under Section 31(1) of the Competition Act, 2002.

The Proposed Combination relates to the acquisition of up to 58.92% stake in HCG by Aceso by way of (i) subscription to equity shares and warrants (representing the right to subscribe to the equity shares) and (ii) an open offer to the public shareholders as per the regulations of SEBI, as per Ministry of Corporate Affairs data.

Acesois an entity forming part of the CVC Network. The CVC Network consists of (i) CVC Capital Partners SICAV-FIS S.A. (including its subsidiaries) and (ii) CVC Capital Partners Advisory Group Holding Foundation (including its subsidiaries), which are privately owned entities whose activities include providing investment advice to and / or managing investments on behalf of certain investment funds and platforms.

HCG and its group are engaged in the business of providing services through cancer treatment clinics, multi-specialty hospitals, fertility treatment centres. In addition, an associate company of HCG is engaged in the business of providing clinical diagnostic services.

A detailed order of the CCI will follow, Ministry of Corporate Affairs added.

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