CCI Green Lights Blackstone and TPG Stake Acquisition of QCIL
Anti-trust regulator The Competition Commission of India (CCI) approved the acquisition of a stake in Quality Care India Ltd (QCIL) by Blackstone and TPG on Sept 20. QCIL is a multi-specialty healthcare provider with a network of multi-specialty hospitals under the brand name 'CARE Hospitals' in several cities across the country.
CCI has approved the acquisition of approximately 72.49 percent and 24.16 percent stakes in Quality Care India Ltd by BCP Asia II and Centella Mauritius Holdings Ltd, respectively, according to two separate press releases.
BCP Asia II is controlled by funds advised and/or managed by Blackstone Inc affiliates, whereas Centella Mauritius Holdings is a special purpose investment vehicle controlled by TPG Inc affiliates.
Deals beyond a certain threshold require approval from CCI, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.