 "CCI okays Manipal Health Enterprises stake sale to Abu Dhabi investment arm")
Fair trade regulator Competition Commission of India (CCI) on Monday cleared Seventy Second Investment Company's proposed stake acquisition in Manipal Health Enterprises.
The deal has been approved under the green channel route.
Manipal Health Enterprises operates a network of hospitals providing multi-specialty care. It has a presence through 27 hospitals in 14 cities in the country.
The combination relates to Seventy Second Investment Company proposal to acquire an equity stake in Manipal Health Enterprises Pvt Ltd, CCI said.
Seventy Second Investment Company is an investment entity, wholly-owned by the investment vehicle of the Government of Abu Dhabi and is incorporated in the Emirate of Abu Dhabi, United Arab Emirates.
"The activities of the parties (including their affiliates) do not exhibit any horizontal, vertical, or complementary overlaps in any of the plausible relevant markets," the competition watchdog said in its notice.
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Therefore, the proposed combination is being notified under the green channel.
Under the green channel route, a transaction which does not raise any risk of an appreciable adverse effect on competition is deemed to be approved on being intimated to the fair trade regulator.
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