The Competition Commission of India (CCI) has approved the acquisition of a certain stake in Curefit Healthcare Private Limited (Target) by MacRitchie Investments Pte. Ltd. (Acquirer).

The Proposed Combination relates to the additional acquisition of a certain stake by the Acquirer in the Target, in order to supplement the Target’s capital requirements in the fitness sector

The Acquirer is an investment company and does not engage in any business operation other than holding investments. It is an indirect wholly owned subsidiary of Temasek Holdings (Private) Limited (Temasek). Temasek’s portfolio companies cover a broad spectrum of industries: Transportation; Financial Services; Telecommunications; Media & Technology; Consumer & Real Estate; as well as Life Sciences & Agri-Food.

The Target is the ultimate parent entity of the Curefit Healthcare Group (Target Group). The Target Group is primarily present in the fitness sector and engages in, inter alia, the sale of fitness management programmes, fitness centre memberships, operation and franchising of fitness centres, and the sale of fitness apparel, footwear, and accessories, in India.

Detailed order of the Commission will follow.

Merger clearance: acquisition of additional stake in Curefit approved to bolster the Target's capital in the fitness sector. The Competition Commission of India approved an additional stake acquisition by MacRitchie Investments Pte. Ltd., an investment holding company and indirect wholly owned subsidiary of Temasek, in Curefit Healthcare Private Limited to supplement the Target's capital requirements in the fitness sector; the Target is the ultimate parent of the Curefit Healthcare Group, which operates fitness management programmes, memberships, franchising and sales of fitness apparel and accessories in India, and a detailed order will follow.