CCI clears Berhyanda's 76% stake acquisition in Suven Pharmaceuticals
The Competition Commission of India (CCI) on Thursday said it has cleared Berhyanda Ltd's acquisition of a 76.10 per cent 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 per cent 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 (Substantial Acquisition of Shares and Takeovers) 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.