MacRitchie's stake buy in 91Streets, Ascent Health & Wellness Solutions, API Holdings gets CCI nod

New Delhi, Jun 12 () The Competition Commission on Friday said it has approved the acquisition of certain stakes in 91Streets Media Technologies, Ascent Health and Wellness Solutions, and API Holdings by MacRitchie Investments.

As per a combination notice filed with the Competition Commission of India (CCI), the proposed transaction is a "financial investment for MacRitchie, which is taking place in ordinary course of business."

It would provide an opportunity for MacRitchie to invest and participate in the long-term growth of the market for wholesale sale and distribution of drugs in India, it noted.

Besides, 91Streets Media Technologies, Ascent Health and Wellness Solutions and API Holding will use this financing to deepen their distribution network across India and build innovative technology-first products to connect the entire ecosystem and give affordable access to healthcare, the notice said.

In a tweet, the regulator said it "approves acquisition by MacRitchie Investments Pte. Ltd. of certain stakes in 91Streets Media Technologies Private Limited, Ascent Health and Wellness Solutions Private Limited and API Holdings Private Limited." SRS RUJ RUJ