CCI Approves Acquisition Of Micro Life Sciences Private By South Elm Investments B.V.

The Competition Commission of India (CCI) on Wednesday said that it has approved the acquisition of Micro Life Sciences by South Elm Investments B.V.

According to the official statement, the proposed combination pertains to the proposed acquisition of a minority stake in Micro Life Sciences by South Elm Investments B. V. 

SEI is an investment holding company incorporated under the laws of the Netherlands. The shareholders of SEI are certain private equity funds managed by Warburg Pincus LLC.

Micro Life is a company incorporated in India, which is primarily engaged in business activities in India along with subsidiaries: manufacture and sale of medical devices in various categories such as stents, etc. 

CCI has also approved the acquisition of equity stake in Future Generali India Insurance company by Generali Participations Netherlands N.V.

Generali Participations Netherlands N.V. (acquirer) is a wholly-owned subsidiary of Assicurazioni Generali S.p.A (“Generali Group”), the parent entity of the Generali group of companies. Future Generali India Insurance Company (target) is a general insurance company engaged in the provision of non-life or general insurance services in India, according to the statement. 

The proposed combination is related to an acquisition of shares of FGIIC by GPN, an existing shareholder of FGIIC. 

According to the statement, GPN proposed to acquire approximately 25 per cent of the equity share capital of FGIIC held by Future Enterprises, pursuant to which GPN’s aggregate (direct and indirect) shareholding in FGIIC will stand increased from 49 per cent to about 74 per cent.