13 October, 2014
On August 13, 2014, CCI approved the acquisition of 100% of the share capital of Medreich Limited (‘Medreich’) by Meiji Seka Pharma Co., Ltd. (‘Meiji Seka’). The acquisition was made through five separate share purchase agreements (‘SPA’).
CCI noted that (i) Meiji Seka had negligible presence in the pharmaceutical business in India, (ii) the parties had no vertical overlaps in India, and (iii) Medreich was mainly a pharmaceuticals exporter with around 80% of its revenue coming from exports.
Accordingly, CCI approved the proposed acquisition observing that it was not likely to cause an appreciable adverse effect on competition in India.
For further information, please contact:
Zia Mody, AZB & Partners
[email protected]
Abhijit Joshi, AZB & Partners
[email protected]
Shuva Mandal, AZB & Partners
[email protected]
Samir Gandhi, AZB & Partners
[email protected]
Percy Billimoria, AZB & Partners
[email protected]
Aditya Bhat, AZB & Partners
[email protected]