CCI Approves Acquisition of Aakash Educational Services by Manipal Health Systems and MEMG Family Office

Aakash Educational Services provides coaching for students from class 8 to 12, including preparation for competitive tests like Olympiads and NTSE.

The Competition Commission of India (CCI) has given its approval for the acquisition involving Manipal Health Systems Private Limited and MEMG Family Office LLP in Aakash Educational Services Limited.

Key Details of the Acquisition:

Acquirers:

Manipal Health Systems Private Limited (Acquirer-1): An Indian company specializing in managing hospitals and providing healthcare services.

MEMG Family Office LLP (Acquirer-2): An Indian limited liability partnership firm belonging to the Pai Family Group, primarily involved in consultancy services.

Target:

Aakash Educational Services Limited (Target): A public unlisted company offering a range of educational services, including coaching and learning resources for various academic levels and competitive exams. The Target operates through classroom-based, online, distance, and hybrid learning programs.

Transaction Details:

Transaction-1: Involves the allotment of a specific equity stake in Aakash Educational Services to Manipal Health Systems.

Transaction-2: Involves the right for MEMG Family Office to seek the transfer of certain equity shares of Aakash Educational Services.

Aakash Educational Services provides coaching for students from class 8 to 12, including preparation for competitive tests like Olympiads and NTSE. The services are offered through multiple modes including classroom, online, and hybrid formats.

This strategic acquisition is anticipated to influence the educational landscape, leveraging the expertise of Manipal Health Systems in managing complex operations and MEMG Family Office's consultancy background. The detailed order of the CCI regarding this approval will be issued in due course.