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CCI approves Mankind Pharma and Bharat Serum Vaccines deal | News India

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New Delhi, 02 October (HS). The Competition Commission of India (CCI) has given its approval to the proposed acquisition of Bharat Serum & Vaccines Limited (BSV) by Mankind Pharma Limited (Mankind) for Rs 13,630 crore. The proposed transaction between these two companies involves the acquisition of 100 per cent shareholding of BSV by Mankind.

The Competition Commission of India said in a statement issued on Wednesday that Mankind Pharma has been approved for the acquisition of Bharat Serum and Vaccines. Mankind Pharma had announced in July that it has entered into an agreement to acquire entire (100 per cent) stake in Bharat Serum and Vaccines from private equity firm Advent International for an enterprise value of Rs 13,630 crore. Following this acquisition, more than 2,500 Bharat Serums & Vaccines employees will join Mankind.

It is noteworthy that Mankind Pharma is a public listed company. The company is engaged in developing, manufacturing and marketing a diverse range of Pharmaceutical Ready Dosage Formulations (FDF) in various acute and chronic therapeutic areas. The company is also engaged in manufacturing and selling of various consumer health care products like emergency contraceptive, pregnancy test, vitamins, minerals, nutraceuticals, antacids and anti-acne preparation segments.