CCI clears US PE firm TPG's proposal to acquire stake in Schott Poonawalla

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CCI clears US PE firm TPG's proposal to acquire stake in Schott Poonawalla - Business Standard

Quick Summary:

Fair trade regulator CCI on Tuesday granted clearance to US-based private equity firm TPG's proposal to acquire a stake in Schott Poonawalla from billionaire Adar Poonawalla-led Serum Institute of India.

Mumbai-headquartered Schott Poonawala is a 50:50 joint venture between Serum Institute of India and SCHOTT Pharma AG & Co, which is part of German speciality glass firm SCHOTT AG.

"The proposed combination involves the acquisition by TPG Scion SG Pte Ltd of certain shareholding in SPPL (Schott Poonawalla Pvt Ltd) by way of a secondary purchase from Serum Institute of India Pvt Ltd," CCI said in a release.