Advent’s Rasmeli to Invest in Apollo Healthco and Merge with Keimed
The Competition Commission of India (CCI) has given the green light to a series of transactions involving Advent’s Rasmeli investing in Apollo Healthco (AHL) and the merger of Keimed into AHL.
Details of the Transactions
Rasmeli, an investment entity based in Cyprus and managed by Advent International, will make a minority investment in AHL over two tranches. This investment will grant Rasmeli certain rights in AHL.
Additionally, AHL plans to acquire shares in Keimed through phased primary and secondary transactions. Following the Rasmeli investment, Keimed and AHL will work towards merging Keimed into AHL.
Before the Rasmeli investment, Apollo Hospitals Enterprise Limited (AHEL) will subscribe to equity shares of AHL through a preferential allotment and a bonus issuance of new shares by AHL.
About the Companies
Rasmeli Limited is an entity incorporated in Cyprus, primarily focused on holding investments. It is indirectly held by entities managed by Advent International, which invests in sectors like healthcare, industrial, retail, and technology.
Apollo Hospitals Enterprise Limited (AHEL) in India offers a wide range of healthcare services, including the operation of hospitals and various healthcare centers. AHEL also provides consultancy and operational management support for healthcare providers.
Apollo Healthco Limited (AHL) operates the ‘Apollo 24|7’ platform, which allows users to book doctor appointments and diagnostic tests. AHL also acts as a wholesale distributor of pharmaceuticals and FMCG products.
Doubts Revealed
Advent’s Rasmeli -: Advent’s Rasmeli is a company that invests money in other businesses. It is managed by a big company called Advent International.
Apollo Healthco (AHL) -: Apollo Healthco, also known as AHL, is a company that is part of the Apollo group. It helps people get medicines and other health products through its ‘Apollo 24|7’ platform.
Keimed -: Keimed is a company that sells medicines and health products. It is going to join with Apollo Healthco to become one bigger company.
Competition Commission of India (CCI) -: The Competition Commission of India, or CCI, is a government agency that makes sure companies do not do unfair things to become too powerful.
Cyprus-based -: Cyprus-based means that the company, Rasmeli, is located in Cyprus, which is a small island country in Europe.
Minority investment -: A minority investment means that Rasmeli will buy a small part of Apollo Healthco, not enough to control the company.
Apollo Hospitals Enterprise Limited (AHEL) -: Apollo Hospitals Enterprise Limited, or AHEL, is a big company in India that runs hospitals and health services. It is part of the Apollo group.
Subscribe to new shares -: Subscribe to new shares means that AHEL will buy new pieces of Apollo Healthco, making it part-owner of the company.
Apollo 24|7 -: Apollo 24|7 is an online platform where people can buy medicines and health products, and also get health services like doctor consultations.
FMCG products -: FMCG stands for Fast-Moving Consumer Goods. These are products that people buy often, like snacks, soaps, and other everyday items.
