CCI approves acquisition by Lightstone Fund S.A.

The acquisition by Lightstone Fund S.A., for and on behalf of Lightstone Global Fund (LGT) of certain equity stakes has been approved by the Competition Commission of India (CCI). Under Section 31(1) of the Competition Act, 2002, the Lightstone Fund S.A. will acquire certain equity stakes in 91Streets Media Technologies Pvt. Ltd. (91Streets), Ascent Health and Wellness Solutions Pvt. Ltd. (Ascent), API Holdings Pvt. Ltd. (API), Aahaan Commercials Pvt. Ltd. (Aahaan) and Lokprakash Vidhya Pvt. Ltd. (Lokprakash).

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Information about the above mentioned companies:

• Lightstone Fund S.A.: It was established as an umbrella fund structure with initially one sub-fund, i.e. Lightstone Global Fund and is presently managed by LGT Capital Partners (Ireland) Limited.
• API Holdings Pvt. Ltd.: This company is incorporated in India. It is a stakeholder in Instinct Innovations Private Limited engaged in the business of developing software and enterprise resource planning solutions for healthcare business and non-healthcare space.
• Ascent Health and Wellness Solutions Pvt. Ltd.: It is operated on a pan-India basis through its subsidiaries. It is engaged in the (online as well as offline) wholesale B2B sale including the distribution of pharmaceutical, over the counter FMCG as well as nutraceutical products.
• 91Streets Media Technologies Pvt. Ltd.: It is is incorporated in India and operated on a pan-India basis. It owns technology and intellectual property required to develop an e-commerce platform.

Important takeaways for all competitive exams: 

• Chairperson of Competition Commission of India: Ashok Kumar Gupta.

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