Permira to buy 25.71% in Cloudnine Hospitals parent: CCI filing
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According to a summary of the proposed combination, the acquisition will be through NuageLux BidCo a private limited company newly incorporated under the laws of Luxembourg. The summary noted a potential indirect and minuscule vertical relationship has been identified between a controlled entity of Permira which is engaged in the manufacture and sale of pharmaceutical products in India (Upstream Market), and the Target (including its relevant entities) which are engaged in the provision of healthcare services in India (Downstream Market). The London-headquartered buyout firm has emerged ahead of rival TPG Capital to acquire the roughly 25% stake held by existing investor True North Capital. The transaction is subject to regulatory approvals, with Permira having already sought the Competition Commission of India’s nod for the deal. The potential investment comes after both Permira and TPG Capital emerged as frontrunners for a significant minority stake in Cloudnine, as first reported by ET on August 1. KCIL has one wholly-owned subsidiary, Acquity Labs Private Limited. It is also in the process of acquiring Apollo Specialty Hospitals Private Limited and Apollo Fertility Centre Private Limited from Apollo Health and Lifestyle Limited, which is currently pending approval before the Competition Commission of India (CCI), the summary noted. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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