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Seventy Second Investment Company LLC proposes to acquire equity shareholding in Manipal Health Enterprises Private Limited under the green channel route. The acquirer acts as an investment entity wholly owned by an investment vehicle of the Government of Abu Dhabi. The target operates a network of hospitals providing multi-specialty care through twenty-seven hospitals in fourteen cities in India. The activities of the parties do not exhibit any horizontal, vertical, or complementary overlaps in any plausible relevant markets in India. The acquirer notifies the proposed combination under Regulation 5A and Schedule III of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011.
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SUMMARY OF THE COMBINATION
[UNDER REGULATION 13(1A) OF THE COMPETITION COMMISSION OF INDIA (PROCEDURE IN REGARD TO THE TRANSACTION OF BUSINESS RELATING TO COMBINATIONS) REGULATIONS, 2011 (AS AMENDED)]
(a) Name of the parties to the combination
(i) Seventy Second Investment Company LLC ("Acquirer"); and
(ii) Manipal Health Enterprises Private Limited ("Target").
(b) The nature and purpose of the combination
The Acquirer proposes to acquire equity shareholding in the Target ("Proposed Combination"). The Proposed Combination is notifiable to the Hon'ble Competition Commission of India under Section 5(a) of the Competition Act, 2002.
The Acquirer is proposing to undertake the Proposed Combination as it considers an investment in the Target a compelling investment opportunity.
(c) The products, services, and business(es) of the parties to the combination
Acquirer
Target
(d) The respective markets in which the parties to the combination operate
The activities of the Parties (including their affiliates) do not exhibit any horizontal, vertical, or complementary overlaps in any of the plausible relevant markets in India.
Therefore, the Proposed Combination is being notified under the green channel route in terms of Regulation 5A and Schedule III of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 (as amended).
