CCI Greenlights Abu Dhabi Investment Authority’s Stake Acquisition in Berhyanda Firms

The Competition Commission of India (CCI) has approved Abu Dhabi Investment Authority's (ADIA) acquisition of stakes in Berhyanda Ltd and Berhyanda MidCo Ltd through Platinum Poppy. The acquisition indirectly gives ADIA an economic interest in Suven Pharmaceuticals, a company engaged in manufacturing and selling active pharmaceutical ingredients in India.

The Competition Commission of India (CCI) has granted its approval for the acquisition of stakes in Berhyanda Ltd and Berhyanda MidCo Ltd by Platinum Poppy, a subsidiary of the Abu Dhabi Investment Authority (ADIA).

Both Berhyanda and Berhyanda MidCo are wholly-owned investment holding firms managed by Advent International, LP. Platinum Poppy, incorporated in the Abu Dhabi Global Market, was established solely to invest in these entities.

This acquisition will give Platinum Poppy, and thereby ADIA, an indirect non-voting economic interest in Suven Pharmaceuticals Ltd as Berhyanda currently holds a 50.1% stake in Suven, a prominent manufacturer and seller of active pharmaceutical ingredients in India.

(With inputs from agencies.)