The Competition Commission of India (CCI) approves acquisition of 20% equity share capital of Keimed Private Limited (Keimed) by Ms. Shobana Kamineni through Prime Time Logistics Technologies Private Limited (PTL).

The proposed combination relates to acquisition of around 20% of the Keimed’s issued and paid-up equity share capital by Ms. Shobana Kamineni through PTL from Mitsui & Co. (Asia Pacific) Pte. Ltd.

PTL owns a commercial property in a building which it leases under its legal name. It also plans to commence business activities in relation to providing logistical support services in the current financial year.

Ms. Shobana Kamineni is the majority shareholder of PTL and an existing shareholder and director of Keimed. She is an individual having shareholding in, and is a director of several entities.

Keimed is engaged in the business of wholesale sale and distribution of pharmaceutical products/drugs, healthcare and wellness products, medical consumables, surgical / hospital consumables across India.

Detailed order of the CCI will follow.

****

RM/PPG/KMN

(Release ID: 1897828) Visitor Counter : 1303