The proposed combination relates to the acquisition of up to 58.92 per cent stake in HCG by Aceso
The Competition Commission of India (CCI) approves acquisition by Aceso Company (Aceso) in HealthCare Global Enterprises (HCG), under Section 31(1) of the Competition Act, 2002.
The Proposed Combination relates to the acquisition of up to 58.92 per cent stake in HCG by Aceso by way of (i) subscription to equity shares and warrants (representing the right to subscribe to the equity shares) and (ii) an open offer to the public shareholders as per the regulations of SEBI.
Acesois an entity forming part of the CVC Network. The CVC Network consists of (i) CVC Capital Partners SICAV-FIS (including its subsidiaries) and (ii) CVC Capital Partners Advisory Group Holding Foundation (including its subsidiaries), which are privately owned entities whose activities include providing investment advice to and / or managing investments on behalf of certain investment funds and platforms.
HCG and its group are engaged in the business of providing services through cancer treatment clinics, multi-speciality hospitals, fertility treatment centres. Also, an associate company of HCG is engaged in the business of providing clinical diagnostic services.