The Competition Commission of India (CCI) has approved the acquisition of 100% equity shares of Medlife International Private Limited (“Medlife”) by API Holdings Private Limited (“API Holdings”). It also approved the acquisition of up to 19.59% equity share capital of API Holdings by Medlife’s shareholders under Section 31(1) of the Competition Act, 2002.
API is a private company, incorporated in 2019. API directly or through its subsidiaries carries out various business activities including wholesale sale and distribution of drugs; transportation and delivery services primarily focused on pharmaceutical sector; owning technology and intellectual property for developing e- commerce platforms. Medlife is primarily a healthcare company engaged in the wholesale sale and distribution of drugs.
Important takeaways for all competitive exams:
- Chairperson of Competition Commission of India: Ashok Kumar Gupta.