The Competition Commission of India on Thursday said it has cleared Berhyanda Ltd's acquisition of a 76.10% stake in pharmaceutical firm Suven Pharmaceuticals Ltd.
Berhyanda Ltd. is a wholly-owned subsidiary of Berhyanda Midco Ltd., which is an affiliate of Advent International Corporation.
The proposed combination relates to the acquisition by Berhyanda Ltd for up to 76.10% of the voting share capital of Suven Pharmaceuticals Ltd, by way of a share purchase agreement dated December 26, 2022, and pursuant to the mandatory open offer in compliance with Sebi's SAST regulations, according to an official release.
Suven Pharmaceuticals Ltd is a biopharmaceutical company that offers its services to global pharmaceutical and agrochemical majors.
Deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices in the marketplace.
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