CDPQ to take stake in 2% of API Holdings
The Competition Commission of India (CCI) has approves acquisition by Singapore-located and Canadian-owned CDPQ Private Equity Asia Pte Ltd of equity shareholding of API Holdings Private Limited under Section 31(1) of the Competition Act, 2002.
The combination envisages an acquisition of approximately 2% shareholding of API, a company incorporated in India and is the ultimate parent entity of the API Holdings group.
API Holdings, either directly or through its subsidiaries, carries out various business activities inter alia including:
(a) wholesale and distribution of drugs (including pharmaceutical products, medical devices and over the counter drugs);
(b) provision of transportation services primarily focused on the pharmaceutical sector;
(c) owning technology and intellectual property for developing e-commerce platforms including marketplaces for facilitating the sale of pharmaceutical products, medical devices and OTC drugs;
(d) manufacturing and marketing of pharmaceutical, ayurvedic and nutraceutical products, medical devices, hygiene products, life-saving medicines, herbal products and food supplements;
(e) operating and providing an online application which provides a business to business (B2B) order management system for retailers and distributors of pharmaceutical products, medical devices and OTC drugs.
CDPQ acts as an institutional investor that manages funds primarily for public and para-public pension and insurance plans. CDPQ is a Canadian institutional fund, which manages and serves more than 40 depositors which comprises public and private pension and insurance funds in Quebec. #investment #mergerandacquisition #banking /fiinews.com
