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The Competition Commission of India (CCI) has approved the acquisition of up to 76.10 percent of the voting share capital of Suven Pharmaceuticals Limited by Berhyanda Limited.
The proposed combination relates to acquisition by Berhyanda Limited (Acquirer) of up to 76.10% of the voting share capital of Suven Pharmaceuticals Limited (Target), by way of a share purchase agreement dated December 26, 2022 and pursuant to the mandatory open offer under SEBI Takeover Code.
The Acquirer is the wholly owned subsidiary of Berhyanda Midco Limited, i.e., in turn the wholly owned subsidiary of Jusmiral Midco Limited, which is collectively controlled by the Advent International GPE IX Funds and the Advent International GPE X Funds, which are managed by Advent International Corporation.
The Target, a bio-pharmaceutical company, is an integrated contract development and manufacturing organisation and offers its services to global pharmaceutical and agrochemical majors in their innovation endeavours.
It also exports its manufactured APIs and advanced drug intermediates to markets outside of India.
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