TMI BlogCCI approves acquisition by Lightstone Fund S.A., for and on behalf of Lightstone Global Fund (LGT) of certain equity stakes in 91Streets Media Technologies Pvt. Ltd. (91Streets), Ascent Health and Wellness Solutions Pvt. Ltd. (Ascent), API Holdings Pvt. Ltd. (API), Aahaan Commercials Pvt. Ltd. (Aahaan) and Lokprakash Vidhya Pvt. Ltd. (Lokprakash)X X X X Extracts X X X X X X X X Extracts X X X X ..... CCI approves acquisition by Lightstone Fund S.A., for and on behalf of Lightstone Global Fund (LGT) of certain equity stakes in 91Streets Media Technologies Pvt. Ltd. (91Streets), Ascent Health and Wellness Solutions Pvt. Ltd. (Ascent), API Holdings Pvt. Ltd. (API), Aahaan Commercials Pvt. Ltd. (Aahaan) and Lokprakash Vidhya Pvt. Ltd. (Lokprakash) - News and Press Release Dated:- 26-8-2020 - News ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - The Competition Commission of India (CCI) approves acquisition by Lightstone Fund S.A., for and on behalf of Lightstone Global Fund (LGT) of certain equity stakes in 91Streets Media Technologies Pvt. Ltd. (91Streets), Ascent Health and Wellness Solutions Pvt. Ltd. (Ascent), API Holdings Pvt. Ltd. (API), Aahaan Commercials Pvt. Ltd. (Aahaan) and Lokprakash Vidhya Pvt. Ltd. (Lokprakash) under S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ection 31(1) of the Competition Act, 2002 , today. Lightstone Fund S.A. is structured as a reserved alternative investment fund and was established as an umbrella fund structure with initially one sub-fund, i.e. Lightstone Global Fund. Lightstone Fund S.A. is managed by its Alternative Investment Fund Manager i.e. LGT Capital Partners (Ireland) Limited. 91Streets is a company incorporated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in India and operates on a pan-India basis directly and through its subsidiaries. 91 Streets inter alia owns technology and intellectual property required to develop an e-commerce platform (website as well as mobile application), focusing on the sale of medicines and nutraceuticals by retailers/retail pharmacies with valid licenses, and diagnostic test package facilities offered by third-party lab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. It also owns and develops a tele-medical consultation platform. Additionally, 91Street s subsidiaries are engaged in the wholesale (Business to Business (B2B)) sale and distribution of pharmaceutical products, and sale to pharmaceutical retailers in India in the provision of logistics delivery and transportation services. Ascent is a company incorporated in India and is operating on a pan- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... India basis directly and through its subsidiaries. These are inter alia engaged in the (online as well as offline) wholesale B2B sale and distribution of pharmaceutical, over the counter FMCG and nutraceutical products, on a cash and carry basis and in the business of owning and developing an application which provides an order management system for facilitating B2B sales in the pharmaceuticals in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dustry. API is a company incorporated in India and is not engaged in any business. In FY21, API, through its subsidiary, acquired stake in Instinct Innovations Private Limited, which is engaged in the business of developing software and enterprise resource planning solutions for healthcare business as well as non-healthcare space, inter alia, and customized application services for the retail p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... harmacies on which sales can also be made. Aahaan Lokprakash do not carry out any business activities and do not have any subsidiaries. Detailed order of the CCI will follow. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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