TaxTMI 
TaxTMI 
CCI approves acquisition of ordinary shares of Berhyanda and Berhyanda MidCo by Platinum Poppy
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....CI approves acquisition of ordinary shares of Berhyanda and Berhyanda MidCo by Platinum Poppy <br>News and Press Release<br>Dated:- 19-7-2024<br><BR>The Competition Commission of India (CCI) has approved the acquisition, inter alia, of ordinary shares of Berhyanda Limited (Berhyanda) and Berhyanda MidCo Limited (Berhyanda MidCo) by Platinum Poppy C 2024 RSC Limited (Platinum Poppy). The Proposed ....
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....Combination involves the acquisition of ordinary shares in, and extension of shareholder debt to Berhyanda and Berhyanda MidCo by Platinum Poppy, pursuant to which, Platinum Poppy will secure an indirect non-voting economic interest in Suven Pharmaceuticals Limited (Suven), as Berhyanda currently holds 50.1% of the shareholding in Suven. Platinum Poppy is a restricted scope company incorporated i....
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....n the Abu Dhabi Global Market. It has been established solely for the purpose of investing into Berhyanda and Berhyanda MidCo. Abu Dhabi Investment Authority (ADIA) is the ultimate beneficiary of Platinum Poppy. ADIA is a public institution established by the Government of the Emirate of Abu Dhabi as an independent investment institution. ADIA manages a global investment portfolio across more than....
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.... two dozen asset classes and sub-categories including developed equities, emerging market equities, small cap equities, government bonds, credit, fixed income, real estate, infrastructure, private equity, cash and alternatives. In India, ADIA has made sector agnostic investments and has previously invested in various sectors such as real estate, financial services, insurance, pharmaceuticals, and ....
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....agrochemicals. Berhyanda and Berhyanda MidCo are wholly owned by funds managed by Advent International, L.P. Both entities are investment holding companies. Suven is a public listed company incorporated in India and is listed on BSE Limited and National Stock Exchange Limited. Suven was incorporated in 2018 and is engaged in the manufacture and sale of active pharmaceutical ingredients and inter....
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....mediates in India, and provision of contract development and manufacturing for intermediates in India. Detailed order of the CCI will follow.<BR> News - Press release - PIB....