SAIL sharpens strategic priorities for FY27, reinforces market position (See 'Corp Brief') Railways sanctions upgradation of Electric Traction System on Bengaluru-Tumkur Section (See 'Corp Brief') IBC - Once resolution plan was approved by CoC, successful resolution applicant is bound by it and cannot seek to evade implementation by raising objections to LoI stipulations that are inherent in process: SC (See 'Legal Desk') Railways sanctions upgradation of Electric Traction System on Mahbubnagar-Secunderabad Section (See 'Corp Brief') Capital Market - Finding of 'fraud' under SEBI PFUTP Regulations, 2003, cannot be sustained, if Securities Appellate Tribunal had committed 'egregious error' in affirming SEBI's conclusions on manipulation & fraudulent intent: SC (See 'Legal Desk') IBC's Primacy Over the Electricity Act and the Extinguishment of Pre-CIRP Claims (See CORP EINSICHT) MoS inaugurates Self-ticketing Kiosks at National Zoological Park (See 'Corp Brief') Ministry of Panchayati Raj to organise outreach workshop on Atmanirbhar Panchayat Program (See 'Corp Brief') Mandaviya leads nationwide World Bicycle Day celebrations with actor Vikrant Massey (See 'Corp Brief') IPR - Nature of enquiry u/s 57, being one for cancellation or rectification of register, is founded upon appreciation of statutory parameters such as distinctiveness, prior use and likelihood of confusion: HC (See 'Legal Desk') MoS inaugurates Daycare Facility for Children of MSDE Employees at Kaushal Bhawan (See 'Corp Brief') National Biodiversity Authority Celebrates World Environment Day 2026 (See 'Corp Brief') AI-enabled Sayuj App & Open Challenge Program 1.0 launched to strengthen Startup Ecosystem: MoS (See 'Corp Brief') Over 6,000 youth from across country to celebrate innovation & leadership (See 'Corp Brief') IBC - Land leased by statutory authority cannot be excluded from Corporate Debtor's assets on ground that development rights were transferred without consent: NCLT (See 'Legal Desk') India Showcases Climate Progress at WTO Environment Week (See 'Corp Brief') IBC - Admission of claim by IRP/RP during CIRP does not amount to acknowledgment of liability u/s 18 of Limitation Act: SC (See 'Legal Desk')

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Phoenix Parentco acquires Parexel International; CCI okays

Published: Oct 26, 2021

By TIOLCorplaws News Service

NEW DELHI, OCT 26, 2021: THE Competition Commission of India (CCI) approves acquisition of Parexel International Corporation by Phoenix Parentco, Inc. The proposed combination envisages acquisition of 100% of the equity shareholding of Parexel International Corporation (Target) by Phoenix Parentco, Inc. (Acquirer). The Acquirer is jointly controlled by EQT Fund Management S.a r.l. (EQT) and the Goldman Sachs Group, Inc. (Goldman Sachs). The Target is headquartered in Durham, USA. It provides biopharmaceutical outsourcing services to biopharmaceutical companies. The global activities of Target can be categorised into broad segments viz. clinical solutions and consulting.

Detailed order of the CCI will follow.

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