The Competition Commission of India (CCI) has approved the acquisition of certain shareholding in Kids Clinic India Limited by NuageLux BidCo S.à r.l.

The proposed combination entails the acquisition of approximately 23% of the shareholding (on a fully diluted basis) in Kids Clinic India Limited (KCIL/Target) by NuageLux BidCo S.à r.l (Acquirer).

The Acquirer is a private limited company newly incorporated under the laws of Luxembourg. The Acquirer is a special purpose vehicle with no operations or presence in India or globally and is ultimately controlled by Permira Holdings Limited (Permira).

Permira is a Guernsey registered private equity business engaged, through its subsidiaries and affiliates, in the provision of investment management services to a number of investment firms. Permira ultimately controls a number of private equity funds which include portfolio companies active across the consumer, services, healthcare, technology, and energy transition sectors globally.

KCIL is a public limited company operating as one of the leading chains of super-specialty hospitals under the brand ‘Cloudnine’, focused on mother and baby care, and operates across the verticals of maternity, gynaecology, paediatrics, and fertility. KCIL currently operates centres across multiple cities in India.