CCI Approves Proposed Combination Involving Curefit Units and FF Lux

The Competition Commission of India (CCI) has approved a proposed business restructuring involving Curefit Healthcare Private Limited and its subsidiaries, Cultfit Healthcare and Curefit Services, as well as Fitness First Luxembourg (FF Lux). The transaction involves demerging the CultPass Elite and CultPass Pro memberships from Cultfit and Curefit Services into Curefit Healthcare, and merging the remaining Curefit Services into Cultfit. Additionally, shares in the new Cultfit entity will be bought back from all shareholders except Curefit Healthcare. Curefit is engaged in fitness and healthcare IT solutions and services, while Cultfit operates fitness centers, and FF Lux manages sports and fitness centers globally. A detailed order from the commission is forthcoming.

Source: Original Link