Latest News | MacRitchie's Stake Buy in 91Streets, Ascent Health & Wellness Solutions, API Holdings Gets CCI Nod

New Delhi, Jun 12 (PTI) 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."

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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.

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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."

(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)