CCI approves subscription to CCPS B of API Holdings by MEMG LLP and 360 ONE

CCI approves subscription to CCPS B of API Holdings by MEMG LLP and 360 ONE

Daily Current Affairs / CCI approves subscription to CCPS B of API Holdings by MEMG LLP and 360 ONE

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Category : Business and economics Published on: March 30 2024

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The Competition Commission of India (CCI) has approved subscription to Compulsorily Convertible Preference Shares (CCPS) B of API Holdings by MEMG LLP and 360 ONE.
MEMG Family Office LLP (Acquirer 1/MEMG LLP) is a limited liability partnership incorporated in India.
MEMG LLP ultimately belongs to the Pai Family Group. MEMG LLP is engaged in the provision of consulting and advisory services to customers in India.
360 ONE Private Equity Fund (Fund) through its investment manager, 360 ONE Asset Management Limited (AML) are together referred to as “Acquirer 2/ 360 One”. The Fund is registered with the SEBI as a Category II AIF and is established for the purpose of investing in various sectors in India and worldwide.
It is managed by its investment manager, i.e., AML. AML provides investment management services to schemes of 360 ONE Mutual Fund and alternative investment funds of the 360 ONE Group.
API Holdings Limited (API Holdings/ Target) is an unlisted public company, directly or indirectly engaged in various activities in the pharmaceutical and healthcare sector in India.

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