21 April 2023 | News
The proposed combination relates to the acquisition by way of a share purchase agreement dated 26 December 2022
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The Competition Commission of India (CCI), a statutory body within the Ministry of Corporate Affairs, Government of India, has approved the acquisition of up to 76.10% of the voting share capital of Hyderabad-based Suven Pharmaceuticals Limited by Berhyanda Limited.
Berhyanda is the wholly owned subsidiary of Berhyanda Midco Limited, i.e., in turn the wholly owned subsidiary of Jusmiral Midco Limited, which is collectively controlled by the Advent International GPE IX Funds and the Advent International GPE X Funds, which are ultimately managed by Advent International Corporation.
Suven Pharmaceuticals, a biopharmaceutical company incorporated on 6 November 2018, is an integrated contract development and manufacturing organisation that offers its services to global pharmaceutical and agrochemical majors in their innovation endeavours. It also exports its manufactured APIs and advanced drug intermediates to markets outside of India.