Competition Comm gives green signal to Medlife-API Holdings deal

"CCI approves proposed combination of Medlife & API Holdings," the fair trade regulator said in a tweet. API Holdings is the parent of PharmEasy, an online pharma entity, as per reports.

Competition Commission of India (CCI) on Tuesday said it has approved the proposed combination of Medlife and API Holdings. The deal relates to acquisition of 100 per cent equity shares of Medlife by API Holdings. Besides, Medlife promoter shareholders and other shareholders will acquire up to 19.59 per cent of the equity share capital of API Holdings on a fully-diluted basis, as per a notice filed with the watchdog.

Medlife, a healthcare company, is primarily engaged in wholesale and distribution of drugs. API Holdings is the parent entity of API Holdings group. "CCI approves proposed combination of Medlife & API Holdings," the fair trade regulator said in a tweet.

API Holdings is the parent of PharmEasy, an online pharma entity, as per reports. In June, a composite scheme of amalgamation filed by API Holdings was approved by the National Company Law Tribunal (NCLT).