CCI Greenlights Major Investments and Acquisitions in Financial and Healthcare Sectors

The Competition Commission of India (CCI) has approved significant acquisitions involving Invesco and Apollo Healthco. IndusInd International Holdings Ltd will acquire a 60% stake in Invesco Asset Management and Invesco Trustee, while Rasmeli, managed by Advent International, will make a minority investment in Apollo Healthco and aid in acquiring Keimed.

The Competition Commission of India (CCI) has given its approval for substantial acquisitions within both the financial and healthcare sectors. IndusInd International Holdings Ltd (IIHL) is set to acquire a 60% stake in Invesco Asset Management India (IAMI) and Invesco Trustee Pvt Ltd. This investment will be managed through IIHL AMC Holdings Ltd, a wholly-owned subsidiary.

IIHL, incorporated in the Republic of Mauritius, holds shares in various companies across different sectors. Invesco AMC and Invesco Trustee are pivotal entities in Invesco Mutual Fund operations. As part of this deal, Invesco will retain a 40% stake in the newly formed joint venture with IIHL.

In a related move, CCI has also sanctioned investments by Rasmeli Ltd, managed by Advent International, in Apollo Healthco and its merger with Keimed. Apollo Healthco operates the Apollo 24/7 platform and distributes pharmaceutical products. These deals aim to promote fair competition while overseeing the acquisition process by the involved firms.