The Competition Commission of India (CCI) approves acquisition of equity share capital of Sajjan India Limited (Target) by Sona Company Pte. Ltd. (Acquirer) under Section 31(1) of the Competition Act, 2002.

The proposed combination relates to investment in the Target by way of acquisition of equity shares of the Target and falls under Section 5(a) of the Competition Act, 2002.

Acquirer

The Acquirer is an investment company, incorporated under the laws of Singapore. The Acquirer does not have any physical presence in India. The Acquirer does not have any portfolio companies or investments in India as on the date of the notice.

Target

In India, the Target’s activities are limited to: (i) contract manufacture and manufacture of chemical compounds used in agro-chemicals; (ii) manufacture and trade of specialty chemicals; (iii) manufacture and trade of chemical compounds used in dyes and pigments; (iv) manufacture of chemical compounds / intermediates (not being active pharmaceutical ingredients) used in pharmaceuticals; and (v) manufacture of chemical reagents.

Detailed order of the CCI will follow.

Merger control: approval of foreign investor acquisition of Sajjan India under Indian competition law notification. The Competition Commission approved acquisition of equity share capital of Sajjan India Limited by Sona Company Pte. Ltd. as a notified combination involving an equity investment; the acquirer is a Singapore investment company with no Indian presence and the target operates in contract manufacture and manufacture and trade of specialty chemicals, agro-chemical intermediates, dyes and pigments compounds, pharmaceutical intermediates (excluding APIs), and chemical reagents, with a detailed order to follow.