Fair trade regulator CCI Monday approved the acquisition of sole control of Gist Brocades International and Singapore-based DSM Sinochem Pharmaceuticals by BCPE Max Dutch Bidco.
According to the Competition Commission of India (CCI), BCPE is a company registered in the Netherlands and is indirectly controlled by Bain Capital Europe Fund, while Dutch firm Gist, through its subsidiaries, is engaged in the supply of Active Pharmaceutical Ingredients (APIs).
Besides, DSM is primarily engaged in the business of providing management, corporate, administration, financial and other services to its group companies.
The CCI "approves acquisition of sole control of Gist-Brocades International BV and DSM Sinochem Pharmaceuticals Pte Ltd by BCPE Max Dutch Bidco BV, the regulator said in a tweet Monday.
In a notice pertaining to the summary of the combination, CCI had earlier said there is no horizontal or vertical relationship between the parties in India. The only product relevant for the combination is API Amoxicillin Trihydrate. Therefore, the relevant market may be considered as the upstream market for API Amoxicillin Trihydrate.
However, the precise definition of the market can be left open, the regulator had added.
Amoxicillin Trihydrate is a penicillin antibiotic.