The Competition Commission of India (CCI) has approved the acquisition of up to 76.10% of the voting share capital of Suven Pharmaceuticals by Berhyanda.
The proposed combination relates to acquisition by Berhyanda (Acquirer) for up to 76.10% of the voting share capital of Suven Pharmaceuticals (Target), by way of a share purchase agreement dated December 26, 2022 and pursuant to the mandatory open offer in compliance with the Securities and Exchange Board of India (SEBI) (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
The Acquirer is the wholly owned subsidiary of Berhyanda Midco, i.e., in turn the wholly owned subsidiary of Jusmiral Midco, which is collectively controlled by the Advent International GPE IX Funds and the Advent International GPE X Funds, which are ultimately managed by Advent International Corporation.
Suven Pharmaceuticals is a bio-pharmaceutical company, incorporated with the object of being engaged in the business of development and manufacturing of New Chemical Entity (NCE) based Intermediates, Active Pharmaceutical Ingredients (API), Speciality Chemicals and formulated drugs under contract research and manufacturing services for global pharmaceutical, biotechnology and chemical companies.
