CCI approves subscription of compulsorily convertible preference shares of API Holdings Limited by MacRitchie Investments Pte. Ltd. and EvolutionX Debt Capital Master Fund 1 Pte. Ltd.

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....CI approves subscription of compulsorily convertible preference shares of API Holdings Limited by MacRitchie Investments Pte. Ltd. and EvolutionX Debt Capital Master Fund 1 Pte. Ltd. <br>News and Press Release<br>Dated:- 31-1-2024<br><BR>The Competition Commission of India (CCI) has approved the subscription of compulsorily convertible preference shares of API Holdings Limited by MacRitchie Invest....

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....ments Pte. Ltd. and EvolutionX Debt Capital Master Fund 1 Pte. Ltd. The proposed transaction entails the subscription of compulsorily convertible preference shares of the API Holdings Limited (Target) by MacRitchie Investments Pte. Ltd. (MacRitchie) and EvolutionX Debt Capital Master Fund 1 Pte. Ltd. (EvolutionX) (Proposed Combination). MacRitchie is an investment holding company and does not en....

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....gage in any business operation other than holding investments. It is an indirect wholly owned subsidiary of Temasek Holdings (Private) Limited (Temasek), being the ultimate parent company. Temasek is an investment company based in Singapore. Temasek's portfolio spans a broad spectrum of industries: Financial Services; Transportation & Industrials; Telecommunications, Media & Technology; Consumer &....

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.... Real Estate; Life Sciences & Agri-Food; multi-sector funds as well as others (including credit). The EvolutionX is a growth stage debt financing platform jointly set up by DBS Group Holdings Ltd. and Temasek. Headquartered in Singapore, EvolutionX provides less dilutive financing to technology-enabled companies across Asia, with a focus on India, China and Southeast Asia. The Target is the ulti....

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....mate parent entity of the API Holdings group. The Target (including its affiliates) is engaged in various business activities in the healthcare sector in India which inter alia include wholesale sale and distribution of pharmaceutical products, medical devices and over the counter (OTC) products, provision of diagnostic services, provision of tele-medical consultation services etc. Detailed orde....

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....r of the CCI will follow.<BR> News - Press release - PIB....