The Competition Commission of India (CCI) has approved acquisition of majority stake in Indira IVF by Zonnebaars and amalgamation of Spaceway Wellness into Indira IVF.

The proposed combination envisages:

a) acquisition of majority shareholding of Indira IVF Hospital Private Limited (Indira IVF) by Zonnebaars Netherlands B.V. (Acquirer/Zonnebaars); and

b) amalgamation of Spaceway Wellness Private Limited (Spaceway) with and into Indira IVF.

Zonnebaars is a part of the EQT group of investment funds, which together with its subsidiaries and funds is a global investment organisation.

Indira IVF is primarily engaged in the provision of fertility and in vitro fertilisation treatment through its hospitals/centres across India.

Spaceway is one of the promoters of Indira IVF.

Detailed order of the CCI will follow.

Merger control approval: regulator clears majority acquisition and amalgamation in fertility services market led by an investment group. The competition regulator approved a combination consisting of acquisition of a majority stake in Indira IVF by Zonnebaars Netherlands B.V. and the amalgamation of Spaceway Wellness Private Limited into Indira IVF, effecting a change in control and consolidation of a promoter entity into the target fertility services operator; the CCI's detailed order will follow.