New Delhi, Competition watchdog CCI has approved global investment firm Permira Holdings‘ proposal to acquire a 23 per cent stake in Kids Clinic India Ltd, the operator of the Cloudnine Hospitals chain.
London-headquartered Permira Holdings Ltd would acquire the stake in Kids Clinic India Ltd (KCIL) through its affiliate NuageLux BidCo Sarl.
“The proposed combination entails the acquisition of approximately 23 per cent of the shareholding (on a fully diluted basis) in Kids Clinic India Ltd by NuageLux BidCo Sarl,” the Competition Commission of India (CCI) said in a release on Tuesday.
Permira portfolio companies span the consumer, services, healthcare, technology, and energy transition sectors globally.
“Commission approves the acquisition of certain shareholding in Kids Clinic India Limited by NuageLux BidCo S.a r.l,” CCI said in a post on X.
KCIL operates one of the leading chains of super-speciality hospitals under the brand ‘Cloudnine’, focused on mother and baby care, and operates across the verticals of maternity, gynaecology, paediatrics, and fertility.
In a separate deal, the anti-trust regulator also granted its nod for the proposed acquisition of a majority stake in Tribhovandas Bhimji Zaveri Ltd by GRT Jewellers (India) Pvt Ltd.
“Commission approves acquisition of majority stake in Tribhovandas Bhimji Zaveri Limited by GRT Jewellers (India) Private Limited,” CCI said on X.
Tribhovandas Bhimji Zaveri and GRT Jewellers are primarily engaged in the manufacture and sale of gems and jewellery in India.
In another deal, fair trade regulator CCI approved acquisition of certain shareholding in FarMart Service Pvt Ltd by Impact Fund Denmark, Belgian Investment Company for Developing Countries SA/NV and Orios Fund III.
FarMart is an Indian company engaged in the business of trading, purchasing or selling agricultural products and commodities on a business-to-business basis in the country and globally.
Impact Fund Denmark is a Danish Development Finance Institution (DFI) that supports sustainable development in developing countries, while Belgian Investment Company operates as a DFI to support the private sector in developing and emerging countries.
Orios Fund III is the sub-fund of Orios Venture Partners Fund III, which is a Sebi-registered category II alternative investment fund.
CCI has approved the three proposed deals on Tuesday.
Deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.
