Acquisition by MacRitchie in API, Ascent & 91Streets approved by CCI

Acquisition by MacRitchie Investments Pte. Ltd. (MacRitchie) in Ascent Health and Wellness Solutions Private Limited (Ascent), API Holdings Private Limited (API) & 91Streets Media Technologies Private Limited (91Streets) has received the approval from the Competition Commission of India (CCI). The acquisition by MacRitchie in three companies will be executed under Section 31(1) of the Competition Act, 2002.

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The Proposed Combination is related to the acquisition of certain percentage of compulsorily convertible debentures, compulsorily convertible preference shares or/and common shares of API, Ascent and 91Streets.

About the four companies:

• MacRitchie Investments Pte. Ltd. is an indirect wholly owned subsidiary of Temasek Holdings (Private) Limited. It is an investment holding company.
• 91Streets Media Technologies Private Limited (91Streets) is a company incorporated in India. It owns technology and intellectual property that is required to develop an e-commerce platform, focusing on the sale of medicines and nutraceuticals by retailers/retail pharmacies.
• Ascent Health and Wellness Solutions Private Limited (Ascent) is a company incorporated in India.
• API Holdings Private Limited (API) is a company incorporated in India and is not engaged in any business.

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