India, Jan. 31 -- The Competition Commission of India (CCI) has approved the subscription of compulsorily convertible preference shares of API Holdings Limited by MacRitchie Investments Pte. Ltd. and EvolutionX Debt Capital Master Fund 1 Pte. Ltd.

The proposed transaction entails the subscription of compulsorily convertible preference shares of the API Holdings Limited (Target) by MacRitchie Investments Pte. Ltd. (MacRitchie) and EvolutionX Debt Capital Master Fund 1 Pte. Ltd. (EvolutionX) (Proposed Combination).

MacRitchie is an investment holding company and does not engage in any business operation other than holding investments. It is an indirect wholly owned subsidiary of Temasek Holdings (Private) Limited (Temasek), being the ulti...