The Competition Commission of India (CCI) has approved the combination involving acquisition in Aakash Educational Services Limited by Manipal Health Systems Private Limited and Manipal Education and Medical Group India Private Limited.
Manipal Health Systems Private Limited is a company registered in India and is owned and controlled by resident Indians. It is engaged in the business of running / managing hospitals and providing healthcare services.
Manipal Education and Medical Group India Pvt Ltd is a company registered in India and is owned and controlled by resident Indians. It is engaged in the provision of management consultancy services in India.
Aakash Educational Services Limited, on the other hand, is a public unlisted limited company incorporated in India under the Companies Act, 1956. The company, directly or through its subsidiary or through its franchisees, is engaged in providing the following services –
(a) coaching services supplementing their classroom learning curated learning resources for class 8,
(b) preparatory coaching services for junior competitive scholarship tests and merit-based entrance tests, such as Olympiads and NTSE,
(c) coaching services supplementing their classroom learning curated learning resources for class 9 to 10, and
(d) coaching services supplementing their classroom learning curated learning resources for science stream for classes 11 and 12.
Aakash offers its services through multiple modes such as classroom-based coaching, online learning, distance learning and hybrid learning programmes.
The transaction relates to the acquisition of equity shares in Aakash Educational Services by Manipal Health Systems and Manipal Education and Medical Group India from Mr. J. C. Chaudhry, an individual shareholder in Aakash.
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