The Competition Commission of India (CCI) has approved subscription of compulsorily convertible preference shares of API Holdings Limited by Goldman Sachs India AIF Scheme-1 and Goldman Sachs India Alternative Investment Trust AIF Scheme-2

The proposed transaction entails the subscription of compulsorily convertible preference shares of the API Holdings Limited (Target) by Goldman Sachs India AIF Scheme-1 (Acquirer 1) and Goldman Sachs India Alternative Investment Trust AIF Scheme-2 (Acquirer 2) (Proposed Combination).

Acquirer 1 and Acquirer 2 are schemes launched by Goldman Sachs India Alternative Investment Trust, set up as a determinate trust under the Indian Trusts Act, 1882. Goldman Sachs (India) Alternative Investment Management Private Limited is the investment manager of Acquirer 1 and Acquirer 2.

The Target is the ultimate parent entity of the API Holdings group. The Target (including its affiliates) is engaged in various business activities in the healthcare sector in India which inter alia include wholesale sale and distribution of pharmaceutical products, medical devices and over the counter (OTC) products, provision of diagnostic services, provision of tele-medical consultation services etc. 

Detailed order of the CCI will follow.

****

NB/VM/KMN