CCI approves deal to acquire minority stake in BDR Pharmaceuticals

The Competition Commission has cleared the proposed acquisition of a minority stake in BDR Pharmaceuticals International Pvt Ltd by Multiples Private Equity Fund III and other investors.

Under the transaction, the minority stake would be purchased by Multiples Private Equity Fund III, SRF Transnational Holdings Ltd, Balkrishna Industries Ltd, Dharmayug Investments Ltd, QRG Investments and Holdings Ltd, Nishant K Agarwal and Mallika Srinivasan, according to a notice filed with the watchdog.

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BDR Pharmaceuticals is mainly into four therapeutic segments -- oncology, critical care, gynaecology, and neurology. It is engaged in manufacture and sale of active pharmaceutical ingredients as well as formulations, and contract development and manufacturing services.

In a tweet on Monday, Competition Commission of India (CCI) said it has approved the "acquisition of minority stake of BDR Pharmaceuticals International Private Limited by Multiples Private Equity Fund III and certain other investors".

Deals beyond a certain threshold require approval from the CCI.