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New Delhi :The Competition Commission of India (CCI) on July 15, 2020, approved acquisition by Aceso Company Pte. Ltd. (Aceso) in Health Care Global Enterprises Limited (HCG), under Section 31(1) of the Competition Act, 2002. The Proposed Combination relates to an acquisition of up to 58.92% stake in HCG by Aceso by way of (i) subscription to equity shares and warrants (representing the right to subscribe to the equity shares) and (ii) an open offer to the public shareholders as per the regulations of SEBI.

Aceso is an entity forming part of the CVC Network. The CVC Network consists of (i) CVC Capital Partners SICAV-FIS S.A. (including its subsidiaries) and (ii) CVC Capital Partners Advisory Group Holding Foundation (including its subsidiaries), which are privately owned entities whose activities include providing investment advice to and / or managing investments on behalf of certain investment funds and platforms, according to a PIB release.

HCG and its group are engaged in the business of providing services through cancer treatment clinics, multi-specialty hospitals, fertility treatment centres. In addition, an associate company of HCG is engaged in the business of providing clinical diagnostic services.