CCI Approves Acquisition by Nirma Limited

  • Competition Commission of India (CCI) has approved the acquisition of majority shareholding of Glenmark Life Sciences Limited by Nirma Limited.
  • Purchase of shares as per the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Nirma Limited:

  • It has a diversified profile and geographical presence with capacities in India and the USA.
  • India operations include soda ash, soaps and detergents, salt, caustic soda, Linear Alkyl Benzene and other industrial products.

Glenmark Life Sciences Limited:

  • It is engaged in the business of development, manufacture and sale of Active Pharmaceutical Ingredients (APIs) and intermediaries.
  • It is involved in contract development and manufacturing organisation (CDMO) services for APIs.
  • It has a portfolio of over 130 APIs serving chronic therapeutic segments like cardiovascular disease, central nervous system disorders, pain management, and anti-diabetics.
Posted in Current Affairs.