CCI Approves Naspers, Temaseks Investment in PharmEasy

The Competition Commission of India (CCI) has approved the proposals of various entities to purchase stakes in PharmEasy, an online e-commerce marketplace for healthcare services. The entities include the South Africa-based Naspers group and Singapore's sovereign wealth fund Temasek.

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Naspers Ventures BV to Acquire Additional Shares

Naspers Ventures BV, a wholly-owned subsidiary of Prosus, which in turn is a direct subsidiary of Naspers Ltd, has proposed to acquire additional shares of API Holdings Ltd, the parent company of PharmEasy, through participation in a proposed rights issue. The acquisition is subject to the terms of the term sheet executed among the parties.

Temasek Holdings and Others to Acquire Stakes

In addition to Naspers Ventures BV, CCI has also granted approval to Temasek Holdings, CDPQ Private Equity Asia Pte, DBS Group Holdings, and Goldman Sachs India Alternative Investment Trust to acquire stakes in API Holdings Ltd. The proposed transactions involve the subscription of compulsorily convertible preference shares (CCPS) of API Holdings by MacRitchie Investments Pte, EvolutionX Debt Capital Master Fund 1 Pte, Goldman Sachs India AIF Scheme-1, Goldman Sachs India Alternative Investment Trust AIF Scheme-2, and CDPQ Private Equity Asia Pte.

MacRitchie, EvolutionX, and CDPQ Private Equity Asia

MacRitchie Investments Pte is a wholly-owned subsidiary of Temasek Holdings, while EvolutionX is a growth stage debt financing platform jointly set up by DBS Group Holdings and Temasek. CDPQ Private Equity Asia, a wholly-owned subsidiary of Canadian institutional fund CDPQ, is an existing investor in PharmEasy.

Goldman Sachs India AIF Schemes

Goldman Sachs India AIF Scheme 1 and Goldman Sachs India Alternative Investment Trust AIF Scheme 2 are schemes launched by Goldman Sachs India Alternative Investment Trust.

The CCI's approval of these stake purchases in PharmEasy is expected to further strengthen the company's position in the Indian healthcare e-commerce market and support its growth plans.