September 24, 2019
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Combination approvals under competition law: three corporate transactions cleared including acquisitions and a pharmacy restructuring.
Approval of corporate combinations under Section 31(1) of the Competition Act, 2002 for three transactions: (i) Varenna Holdings Limited's acquisition of equity in Dixcy Textiles Pvt. Ltd., where Varenna already holds 60% and is an indirect subsidiary of Advent managed funds; (ii) acquisition of approximately up to 25.02% of Federal Mogul Goetze (India) Limited by Icahn Enterprises L.P., American Entertainment Properties Corp. and IEH FMGI Holdings L.L.C., acting in concert with Tenneco Inc.; and (iii) transfer by slump sale of AHEL's front end pharmacy business to Apollo Pharmacies Limited and its subsequent acquisition by identified investors.