The Competition Commission of India (CCI) has approved the proposed combination involving inter-alia subscription to certain CCPS and acquisition of certain equity share capital of Romsons Group Pvt. Ltd. by Jongsong Investments Pte. Ltd.

The Proposed Combination entails an internal restructuring by Romsons Group Private Limited (Target) group and subscription to certain compulsorily convertible preference shares and acquisition of certain equity share capital of the Target by Jongsong Investments Pte. Ltd. (Acquirer).

The Acquirer is an investment holding company and does not have any business operations other than holding investments or physical presence in India. It is an indirect wholly owned subsidiary of Temasek Holdings Private Limited (Temasek), which is an investment company headquartered in Singapore.

Temasek’s global portfolio covers a broad spectrum of industries including Transportation & Industrials; Financial Services; Telecommunications, Media & Technology; Consumer & Real Estate; and Life Sciences & Agri-Food. 

The Target is engaged in manufacture and/or sale of medical devices and personal care & hygiene products in India and globally, by way of exports.

Detailed order of the Commission will follow.

Competition clearance for acquisition and CCPS subscription in Romsons Group under a proposed internal restructuring. Competition Commission of India clearance was granted for a proposed combination involving internal restructuring of the Romsons Group and the subscription to compulsorily convertible preference shares together with acquisition of equity share capital in Romsons Group Private Limited by Jongsong Investments Pte. Ltd. The acquirer is an investment holding company and an indirect wholly owned subsidiary of Temasek Holdings Private Limited. The target is engaged in the manufacture and sale of medical devices and personal care and hygiene products.