CCI approves acquisition of up to 76.10 percent of voting share capital of Suven Pharma by Berhyanda

The proposed combination relates to acquisition by Berhyanda Limited (Acquirer) for up to 76.10% of the voting share capital of Suven Pharmaceuticals Limited (Target), by way of a share purchase agreement dated 26 December 2022 and pursuant to the mandatory open offer in compliance with the Securities and Exchange Board of India (SEBI) (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The Acquirer 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.

Read also: Anti-trust regulator CCI clears Abu Dhabi Investment Authority minority stake acquisition in Intas Pharma

The Target, a bio-pharmaceutical company incorporated on 6 November 2018, is an integrated contract development and manufacturing organization and 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.

Detailed order of the CCI will follow.

Read also: CCI approves proposed deal of Bharat Biotech International to acquire Eastman Exports shares