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

Category : Business and economics
Published on: March 30 2024 Share on facebook

  • 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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