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Shares of Zydus Wellness surged over 4 per cent as the Competition Commission of India has approved Zydus Cadila’s deal to acquire Heinz India’s consumer wellness business. The stock gained 4.36 per cent to Rs 1,360.9. On the NSE, the stock jumped 4.45 per cent to touch a high of Rs 1,363.9.
The Competition Commission of India has approved the acquisition of four consumer brand business of Heinz India by Zydus Cadilla for close to ₹4,500 crore. The brands include Glucon-D, Nycil, Sampriti Ghee and Complan.
The Competition Commission of India had in a tweet on Tuesday said it “approves acquisition of businesses of Heinz related to four brands namely Glucon-D, Nycil, Sampriti Ghee and Complan by Zydus/Cadila’’.
Heinz India is a subsidiary of the US-based Kraft Heinz. Cadila Healthcare holds majority stake in Zydus Wellness.
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