DRDO & Indian Navy conduct maiden successful Salvo launch of NASM-SR missiles (See 'Corp Brief') Sacred relics of Lord Buddha arrive in Leh, witnesses spiritual gathering (See 'Corp Brief') Electrification of buses & trucks is essential for achieving India's decarbonisation targets (See 'Corp Brief') Health-Seeking Behaviour Strengthens as Proportion of Population Reported Ailing in 2025 Nearly Doubles (See 'Corp Brief') Railway Minister to Flag Off Extended Srinagar-Jammu Vande Bharat (See 'Corp Brief') Secretary, DFS Lauds MUDRA Schemes of Financial Inclusion with Public Sector Banks (See 'Corp Brief') PMLA - Separate properties of another company or LLP cannot be attached merely because of shareholding linkage, absent demonstrated money trail to such properties: SAFEMA (See 'Legal Desk') CCI approves Mizuho Securities to acquire certain equity of Avendus Capital (See 'Corp Brief') CCI approves merger of A1 Agri Global, B.N. Agritech & Salasar Balaji Overseas (See 'Corp Brief') CCI approves acquisition by MAIF in Maple IM, Maple PM & Maple Trust (See 'Corp Brief') IBC - Minimum default threshold u/s 4 is met in case involving operational debt denominated in foreign currency, if foreign currency amount is converted into Indian Rupees with reference to exchange rate prevailing on date of invoice: NCLT (See 'Legal Desk') World IP day - Govt announces 3-year fee waiver for sports-related IP registrations (See 'Corp Brief') Govt organizes workshop on developing critical minerals value chain (See 'Corp Brief') Competition Act - Tender conditions & eligibility criteria are primarily within procurer's domain and, absent evidence that such clauses restricts competition or cause exclusionary harm, no intervention is warranted: CCI (See 'Legal Desk') TRAI releases Consultation Paper on 'Proliferation of Public Wi-Fi Networks in India' (See 'Corp Brief') DoP and DTDC sign MoU to strengthen Logistics and E-Commerce in India (See 'Corp Brief') Trade Mark - Defendants' conduct of running a coordinated fraudulent recruitment scheme, impersonating the plaintiffs & extracting money from each candidate, is deliberate exploitation of plaintiffs' goodwill & causes reputational harm: HC (See 'Legal Desk') PDUNASS-Gujarat NLU launch Programme on Labour Law and Social Security Compliance (See 'Corp Brief') Shivraj to launch PMGSY-IV Batch-II in Srinagar (See 'Corp Brief') India emphasises Inclusive and Ecosystem Based Governance of Small Scale Fisheries (See 'Corp Brief') SAFEMA - Certain transaction falls within ambit of benami transaction where appellants failed to produce supporting material, despite opportunity, to establish legitimate source of funds either in hands of lender or alleged contributors: SAFEMA TRIBUNAL (See 'Legal Desk') Diaspora vital connectors between India and global innovation ecosystems: MoS (See 'Corp Brief') Srinagar Khel Sankalp affirms unified commitment to athlete-centric sports ecosystem (See 'Corp Brief') IBC - If corporate debtor is solvent & functioning company, then insolvency process invoked only to secure payment of individual dues by initiation of CIRP, amounts to misuse of IBC as recovery mechanism: SC (See 'Legal Desk') Reining in Misuse of IBC for Recovery (See CORP EINSICHT) SAMAVESH Portal, NMBA 2.0, SETU and SMILE Beggary Apps Launched at Chandigarh Shivir (See 'Corp Brief') PMLA - Attachment of a residential property upheld where Act itself permits attachment not only of property directly acquired from proceeds of crime, but also of untainted property representing equivalent value where actual proceeds of crime are unavailable or untraceable: HC (See 'Legal Desk') Veep urges Youth to become Job Creators and Nation-Builders (See 'Corp Brief') CCIC launches 'Soul Threads' - A Heritage Designer Collection Celebrating Artisanal Legacy (See 'Corp Brief') IBC - If statutory authority, during subsistence of moratorium u/s 14, directs bank to place lien on bank accounts of Corporate Debtor, and bank acts on same, it would amount to execution against Corporate Debtor and is barred by Sec 14: NCLT (See 'Legal Desk')

Print

CCI olays 20% equity buy of Piramal Pharma by Clover Investments

Published: Sep 12, 2020

By TIOLCORPLAWS News Service

NEW DELHI, SEPT 12, 2020: The Competition Commission of India (CCI) approves proposed combination involving acquisition of 20% of the issued and paid-up equity share capital of Piramal Pharma Limited (Pharma Co.) by CA Clover Intermediate II Investments (Curie).

The proposed combination relates to (i) the transfer of global pharmaceutical business ( Transferred Business ) by Piramal Enterprises Limited ( PEL ) to a wholly owned subsidiary of PEL, i.e. Pharma Co., followed by, (ii) the acquisition of 20% of the issued and paid-up equity share capital of Pharma Co. by Curie ( Proposed Combination ).

Curie is a special purpose acquisition vehicle, owned and controlled by investment funds advised by the affiliates of the Carlyle Group Inc. (“ Carlyle Group ”).

The Carlyle Group is a global alternative asset manager, which manages funds that invest globally across four investment disciplines: (i) Corporate Private Equity (buyout and growth capital), (ii) Real Assets (real estate, infrastructure and energy and renewable resources), (iii) Global Credit (leveraged loans and structured credit, opportunistic credit, energy credit, private credit and distressed credit), and (iv) Solutions (private equity fund of funds program and related co-investment and secondary activities).

Pharma Co. is a wholly owned entity of PEL that will hold PEL's Transferred Business as part of the Proposed Combination, and acquire the pharmaceutical business of PEL comprising the Contract Development and Manufacturing Organisation ( CDMO ), Complex Hospital Generics ( CHG ), and Consumer Healthcare Division ( CHD )segments, as well as equity interest in certain PEL entities.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.