The Competition Commission of India (CCI) has approved the restructuring of pharmacy business of Apollo Hospitals Enterprise Ltd (AHEL) and its subsequent acquisition by Enam Securities Private Ltd, Jhelum Investment Funds I and Hemendra Kothari.

Under the proposed combination , the front-end standalone pharmacy business of AHEL would be transferred to Apollo Pharmacies Ltd (APL) by way of slump sale in line with the approval of the National Company Law Tribunal, Chennai Bench.

AHEL is a part of the Apollo Group and provides integrated healthcare services in India and internationally.

Federal Mogul

The competition watchdog has also approved the acquisition of 25 per cent shareholding of Federal-Mogul Goetze (India) Limited (FMGI) by Icahn Enterprises L.P. (IEP LP); American Entertainment Properties Corp. (AEP); and IEH FMGI Holdings L.L.C. (IEH)

The proposed transaction contemplates an acquisition of approximately up to 25.02 per cent shareholding of FMGI by the acquirers from the public shareholders of FMGI.

Under the SEBI Takeover Code, IEP LP and AEP, together with its subsidiary, IEH are the persons acting in concert with Tenneco Inc.

Dixcy Textiles

The Competition Commission of India (CCI) has approved the acquisition of Dixcy Textiles Pvt Ltd (DTPL) by Varenna Holdings Ltd (Varenna). The proposed transaction entails acquisition of equity shares in DTPL by Varenna. Varenna already holds 60 per cent of the shares in DTPL.

Varenna is an indirect subsidiary of funds managed by Advent International Corporation, a global private equity firm.

 

 

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