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Leading global growth investor Warburg Pincus has agreed to pick up a minority stake for USD 210 million (about Rs 1,575 crore) in Micro Life Sciences, the parent firm of the Meril Group, which is the largest medical devices firm in the country. Warburg said the transaction, awaiting CCI approval, will be carried out through its affiliate South Elm Investments. Founded by the Bilakhia family, Meril is a fast-growing medical devices firm that designs, manufactures and distributes clinically relevant and state-of-the-art medical devices. With R&D facilities, manufacturing capability, distribution reach, Meril has market leading position across several categories. Narendra Ostawal of Warburg Pincus India said he is excited by Meril's compelling growth story and believes it stands to benefit from the secular tailwinds of healthcare in the country. Sanjeev Bhatt of Meril said this investment establishes high degree of credibility to the domestic medical devices in the global landscape
Competition Commission has given its nod for the proposed investments worth USD 500 million in ride-hailing platform Ola by Temasek, Warburg Pincus and Ola founder Bhavish Aggarwal. ANI Technologies Private Limited offers taxi and auto rickshaw aggregation services under the brand name 'Ola'. The Competition Commission of India (CCI) has approved acquisition of shares by MacRitchie Investments (Temasek), Fort Canning Investments, Plum Wood Investment Limited (Plum Wood) and certain voting rights by Bhavish Aggarwal in ANI Technologies, according to two releases issued on Friday. MacRitchie is an investment holding company and is a subsidiary of Temasek Holdings (Private) Limited. Singapore-based Temasek is an investment company. Fort Canning is also an investment holding company. Plum Wood is also an investment holding company and its shareholders are certain private equity funds managed by Warburg Pincus LLC. The latter, headquartered in New York, acts as a manager to certain priv