The Competition Commission of India (CCI) approves the acquisition of less than 5% shareholding in Intas Pharmaceuticals Limited by Canary Investments Limited and Link Investment Trust II, under Section 31(1) of the Competition Act, 2002.

The Proposed Combination relates to acquisition of less than 5% shareholding of Intas Pharmaceuticals Limited (Intas) by Canary Investments Limited (Canary) and Link Investment Trust II (Link II).

Canary is an investment company registered in Mauritius. Link II is a private trust created and registered under the laws of India. Intas is a public limited company incorporated and registered under the laws of India. Intas is said to be a vertically integrated global pharmaceutical formulation development, manufacturing, and marketing company.

The Commission approved the Proposed Combination subject to the carrying out of modifications proposed by Canary and Link II.

The detailed order of the CCI will follow.

 

Competition approval for acquisition of minority shareholding in Intas permits investment subject to proposed modifications. The Competition Commission of India approved under Section 31(1) the acquisition by Canary Investments Limited and Link Investment Trust II of less than five percent shareholding in Intas Pharmaceuticals Limited, a vertically integrated Indian public pharmaceutical company; approval is subject to modifications proposed by the acquirers and the Commission's detailed order will follow.