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In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the “operation summary” below, containing the information provided by the parties.
This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.
The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.
Names of the companies and groups concerned:
- The acquirer: The company “Hulk Asia Holdings II Pte. Ltd”;
- The target: The company “Quinag Acquisition (FDI) Limited”.
Nature of the operation
- Acquisition of exclusive control.
Economic sectors concerned
- Surgical products.
Deadline for interested third parties to submit their observations
- 10 days from the date of publication of this press release, i.e. June 17, 2024.
NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES
The Competition Council has received notification of an economic concentration operation concerning the acquisition by the company “Hulk Asia Holdings II Pte. Ltd” of the exclusive control of the company “Quinag Acquisition (FDI) Limited” from the sole shareholder, “Tummel Acquisition (FPI) Limited”, through the acquisition of 100% of the share capital and the related voting rights.
“Hulk Asia Holdings II Pte. Ltd” is an acquisition vehicle indirectly owned 100% by investment funds, vehicles, and/or accounts advised and managed by various subsidiaries of “KKR & Co. Inc” (with its subsidiaries, “KKR”).
“KKR” is a global investment company that offers alternative asset management services as well as solutions related to capital and insurance markets. KKR oversees investment funds that invest in private equity, credit, and real assets and has strategic partners managing hedge funds.
“Quinag Acquisition (FDI) Limited” is a Mauritian company holding a majority stake in “Healthium Medtech Limited” and “CareNow Lifesciences Private Limited”.
“Healthium Medtech Limited” is an unlisted public medical devices company, headquartered in India, dedicated to the production, sale, and marketing of products used in surgical, post-surgical, and chronic care.
“CareNow Lifesciences Private Limited” is engaged in research, development, design, testing, manufacturing, and sale of over-the-counter infection control, personal care, and personal hygiene products.
Done in Rabat, on June 6, 2024
