Competition Commission clears Baxter-Baxalta deal
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NEW DELHI: Fair trade regulator CCI has approved the proposed transfer of Baxter India's bioscience business and related assets to its wholly-owned subsidiary Baxalta India.
US-based Baxter provides a range of bioscience products.
The global deal involving the two entities follows execution of a Global Separation and Distribution Agreement between Baxter International and Baxalta.
The Competition Commission of India (CCI) has cleared the proposed combination after finding that the transaction would not have an adverse impact on competition in the country.
"The target business has been effectively transferred to the acquirer on June 30, 2015, except in certain 'deferred' jurisdictions, including India, where the transfer of the local target businesses will take place at a later date pursuant to local separation agreements," CCI said citing information provided in the notice.
In India, Baxter operates through two subsidiaries -- Baxter India Pvt and Gambro India Pvt.
US-based Baxter provides a range of bioscience products.
The global deal involving the two entities follows execution of a Global Separation and Distribution Agreement between Baxter International and Baxalta.
The Competition Commission of India (CCI) has cleared the proposed combination after finding that the transaction would not have an adverse impact on competition in the country.
"The target business has been effectively transferred to the acquirer on June 30, 2015, except in certain 'deferred' jurisdictions, including India, where the transfer of the local target businesses will take place at a later date pursuant to local separation agreements," CCI said citing information provided in the notice.
In India, Baxter operates through two subsidiaries -- Baxter India Pvt and Gambro India Pvt.
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