The Competition Commission of India (CCI) has cleared the proposed deal between KKR-backed Radiant Life Care and Max Healthcare. The companies announced the proposed merger in a joint statement in December 2018. The combined entity will be valued at Rs 7242 crore. The deal will see KKR becoming the majority shareholder, while Radiant Life Care promoter Abhay Soi will lead the combined company as chairman. Max Healthcare promoters, led by Analjit Singh, would step down. Based on the share swap ratio recommended in the valuation report, the shareholding pattern of the combined entity will be 51.9 percent, 23.2 percent, and 7 percent held by KKR, Abhay Soi, and Max promoters, respectively, with the balance being held by the public and other shareholders.
The merged entity will continue to use the current brand name Max Healthcare, with appropriate adjustments to its logo.