The Competition Commission of India on Saturday approved the acquisition of a shareholding in Yatharth Hospital and Trauma Care Services Limited by Rasmalai Limited. This firm is controlled by Advent International. The regulator said the approval clears the proposed transaction, though the financial value of the deal remains undisclosed today.
Synopsis
The Competition Commission of India (CCI) on Saturday approved the acquisition of a certain shareholding in Yatharth Hospital & Trauma Care Services Limited by Rasmalai Limited, an entity indirectly controlled by funds managed or advised by global private equity firm Advent International.
The Competition Commission of India (CCI) on Saturday approved the acquisition of a certain shareholding in Yatharth Hospital & Trauma Care Services Limited by Rasmalai Limited, an entity indirectly controlled by funds managed or advised by global private equity firm Advent International.
In an official release, the competition regulator said, "The Competition Commission of India (CCI) has approved the acquisition of a certain shareholding of Yatharth Hospital & Trauma Care Services Ltd. by Rasmalai Limited."
The proposed transaction involves Rasmalai Limited acquiring a stake in Yatharth Hospital & Trauma Care Services Limited.
According to the CCI, Rasmalai Limited is incorporated in Cyprus and is primarily engaged in holding investments. The company currently has no business operations or presence in India.
The regulator said, "The Acquirer is indirectly controlled by investment funds managed and/or advised by Advent International, L.P. and/or its affiliates."
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Yatharth Hospital & Trauma Care Services Limited operates a network of super-speciality hospitals in India, offering healthcare services, diagnostic facilities and advanced medical procedures across multiple medical specialities.
The approval clears the proposed transaction from the competition regulator's perspective.
The CCI release did not disclose the percentage of shareholding proposed to be acquired or the financial value of the transaction.
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