 "Competition Comm clears Ipca Laboratories-Unichem Laboraties deal")
Competition Commission on Thursday said it has approved Ipca Laboratories' proposed 59.38 per cent stake purchase in Unichem Laboratories.
The proposed deal involves the company buying 33.38 per cent shareholding in Unichem Laboratories pursuant to a share purchase agreement.
Further, Ipca Laboratories has to make an open offer to buy an additional 26 per cent stake in listed Unichem Laboratories under Sebi norms.
In a release, the Competition Commission of India (CCI) said the Ipca Laboratories will acquire up to 59.38 per cent stake in the target company.
The deal has been cleared by the regulator, as per the release.
Deals beyond a certain threshold require the approval of CCI, which keeps a tab on unfair business practices in the marketplace.
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