The Competition Commission of India (CCI), the country’s fair trade watchdog, approved the proposed merger between fintech company Slice and North-East Small Finance Bank (NESFB). NESFB, headquartered in Guwahati, operates primarily in the northeastern states of India.
The merger involves Garagepreneurs Internet Pvt Ltd (GIPL) and its subsidiaries Quadrillion Finance Pvt Ltd and Intergalactory Foundry Pvt Ltd, collectively known as Slice, merging with NESFB, along with RGVN North-East Microfinance Ltd. Slice specializes in digital payments and credit products in India.
Additionally, the CCI approved the proposed acquisition of a stake in the Asian Institute of Nephrology and Urology (AINU) by TPG Growth V SF Markets Pte and Waverly Pte through Asia Healthcare Holdings Pte Ltd (AHH). TPG Growth V SF Markets Pte Ltd (Growth V) and Waverly Pte Ltd will acquire redeemable preference shares in AHH.
Asia Healthcare Holdings and TPG Asia Healthcare Holdings Pte (AHH) are engaged in long-term investment holding activities and provide healthcare services in India. AINU focuses on urology and nephrology care, operating seven hospitals across India.
The CCI’s approval is essential for deals surpassing a certain threshold, ensuring fair competition in the Indian marketplace. These approvals signal the CCI’s dedication to fostering a competitive business environment. The green light for these mergers and acquisitions opens avenues for sector consolidation, potentially enhancing services and accessibility for consumers.