CCI Clears 360 ONE & Claypond Capital's Acquisition in API Holdings

02 Apr 2025 CW Team

The Competition Commission of India (CCI) has granted approval for the acquisition of specific Class B compulsorily convertible preference shares (CCPS B) of API Holdings by 360 ONE and Claypond Capital.

360 ONE Large Value Fund – Series 13 (360 ONE LVF) operates as a scheme under the 360 ONE Private Equity Fund, which is managed by 360 ONE Alternates Asset Management Limited (AAML). Registered with SEBI as a Category II Alternative Investment Fund (AIF), 360 ONE LVF focuses on investments across various sectors in India and internationally. AAML provides investment management services to multiple schemes within the fund, as well as other Category I and Category II AIFs under the 360 ONE Group. Additionally, it offers co-investment portfolio management services.

Claypond Capital Partners Private Limited is an Indian private limited company affiliated with the Pai Family Group. It specializes in consulting and advisory services for clients in India.

API Holdings Limited is an Indian company involved in pharmaceutical and healthcare-related activities.

The acquisition will be carried out in two steps. First, 360 ONE will purchase a portion of CCPS B shares of API Holdings from MEMG Family Office LLP (MEMG LLP). Simultaneously, Claypond Capital will acquire another portion of CCPS B shares from MEMG LLP. Collectively, these transactions form the approved acquisition.

The Competition Commission of India’s detailed order on the transaction will be issued separately.

News source: PIB

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