The Competition Commission of India (CCI) has approved acquisition of certain equity stake in Apollo Health and Lifestyle Limited (Target) by Apollo Hospitals Enterprise Limited (Acquirer).

The Proposed Combination involves the acquisition by the Acquirer of an additional 30.58% shareholding in the Target. As on date, the Acquirer already holds 68.84% shareholding in the Target, which will increase to 99.42% post-Proposed Combination.

The Acquirer is a publicly listed company and is the parent company of the Apollo Hospitals group. The Acquirer Group is engaged in providing a variety of services in the healthcare sector in India.

The Target Group is engaged in the provision of primary and secondary healthcare services, diagnostic services, and telemedical consultation services in India.

Detailed order of the Commission will follow.

Apollo Hospitals to increase stake in Apollo Health and Lifestyle to 99.42% following regulatory approval. Approval granted for the Proposed Combination in which Apollo Hospitals Enterprise Limited will acquire an additional 30.58% equity stake in Apollo Health and Lifestyle Limited, increasing its shareholding from 68.84% to 99.42%, effecting near-complete consolidation of the Target by its listed parent that operates across healthcare services, diagnostics and telemedicine; a detailed Commission order will follow.