The Competition Commission of India (CCI) on Tuesday said it cleared Nirma’s acquisition of majority shareholding of Glenmark Life Sciences Ltd. The combination relates to the acquisition of the majority shareholding of Glenmark Life Sciences Ltd by Nirma Ltd.
Glenmark Life Sciences Ltd (GLS) is engaged in the business of development, manufacturing, and sale of Active Pharmaceutical Ingredients (APIs) and intermediaries and contract development and manufacture organisation (CDMO) services for APIs.
"CCI approves acquisition of majority shareholding of the Glenmark Life Sciences Limited by the Nirma Ltd," the competition watchdog said in a post on social media platform X on Tuesday.
Ahmedabad-based Nirma is known for its detergents, soap, and dishwashing bars. It is also into the manufacturing of industrial products like soda ash, linear alkyl benzene, alfa olefin sulphonates, fatty acid, glycerine, and sulphuric acid.
In September this year, Glenmark Pharmaceuticals said its board has approved to divest 75% stake in its subsidiary GLS to Nirma Ltd for ₹5,651.5 crore.
The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.
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