Temasek & Motilal Oswal Get CCI Nod for Niva Bupa Stake

New Delhi, Dec 12 (PTI) Fair trade regulator Competition Commission of India (CCI) on Tuesday gave its nod to Temasek and Motilal Oswal for the acquisition of a stake in health insurer Niva Bupa Health Insurance.

The combination relates to the subscription to the equity shares and special rights of Niva Bupa Health Insurance Company Ltd by India Business Excellence Fund – IV (IBEF IV) and V-Sciences Investments Pte Ltd.

IBEF-IV is a Sebi-registered alternative investment fund (AIF) and a fund of Motilal Oswal Alternate Investment Advisors while V-Sciences Investments Pte Ltd is an indirectly wholly-owned subsidiary of Singapore's sovereign wealth fund Temasek Holdings.

"CCI approves the proposed combination involving acquisition of certain equity shares and special rights in Niva Bupa Health Insurance Limited by India Business Excellence Fund – IV and V-Sciences Investments Pte Ltd," according to a post by CCI on social media platform X on Tuesday.

In October, Health insurer Niva Bupa said a clutch of private equity funds, including Temasek and Motilal Oswal have committed to invest Rs 800 crore in the company.


Last month, CCI approved the acquisition of an additional stake in Niva Bupa Health Insurance Company by Bupa Singapore Holdings Pte. The latter is a shareholder of Niva Bupa and a subsidiary of international healthcare group Bupa.

In another post, the competition watchdog approved the acquisition of 100 per cent shareholding and voting rights in Constantia Flexibles Holding GmbH by Capripack BidCo GmbH.

Capripack is an acquisition vehicle owned by investment funds of US-based private equity firm ORC, while Constantia is a global producer of flexible packaging products and is controlled by funds and affiliates of Wendel SE, a French investment company.

The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.