New Delhi, Sep 20 (PTI) Anti-trust watchdog Competition Commission of India (CCI) on Wednesday said it has approved the stake acquisition by Blackstone and TPG in Quality Care India Ltd (QCIL).

QCIL is a multi-speciality healthcare provider, which operates a network of multi-speciality hospitals under the brand name 'CARE Hospitals' in several cities across the country.

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According to two separate releases, CCI said it has approved the acquisition of about 72.49 per cent and 24.16 per cent stake in Quality Care India Ltd by BCP Asia II and Centella Mauritius Holdings Ltd, respectively.

BCP Asia II is controlled by funds advised and/or managed by affiliates of Blackstone Inc, while Centella Mauritius Holdings is a special purpose investment vehicle controlled by the affiliates of TPG Inc.

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Deals beyond a certain threshold require approval from CCI, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)