Competition Commission of India Approved Nirma Limited’s Acquisition of Majority of Glenmark Life Sciences Limited’s Shares

The proposed combination relates to Nirma Limited (Acquirer) acquiring the majority of shares of Glenmark Life Sciences Limited (Target) through (i) buying shares from the promoter of the Target and (ii) buying shares from the general public through an open offer in compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The Acquirer is a geographically diverse entity with capabilities in both India and the United States. Soda ash, detergents and soaps, salt, caustic soda, linear alkyl benzoene, and other industrial products are produced in India.

Active pharmaceutical ingredients (APIs) are developed, produced, and sold by the target company. It also provides intermediaries and contract development and manufacture organization (CDMO) services for APIs.

With more than 130 APIs in its portfolio, The Target caters to chronic therapeutic markets like anti-diabetics, pain management, central nervous system disorders, and cardiovascular disease.

Leave a Comment