The Competition Commission of India (CCI) has approved the acquisition of 100 per cent equity shares of Medlife International Private Limited (Medlife) by API Holdings Private Limited (API Holdings) and of up to 19.59 per cent equity share capital of API Holdings by Medlife’s shareholders.
The proposed combination relates to the acquisition of 100 per cent of equity shares of Medlife by API and as consideration, the acquisition of up to 19.59 per cent of the equity share capital of API Holdings (on a fully diluted basis), by the Medlife Promoter Shareholders and other shareholders of Medlife. (Prashant Singh, Tushar Kumar and the Prasid Uno Family Trust (Trust) are collectively referred to as Medlife Promoter Shareholders), an official release said.
API is a private company, incorporated in 2019. API directly or through its subsidiaries carries out various business activities including wholesale sale and distribution of drugs; transportation and delivery services