CCI Approves Platinum Poppy's Acquisition of Berhyanda and Berhyanda MidCo Shares
The Competition Commission of India has approved the acquisition of ordinary shares of Berhyanda Limited and Berhyanda MidCo Limited by Platinum Poppy C 2024 RSC Limited. Platinum Poppy will secure an indirect non-voting economic interest in Suven Pharmac
Abu Dhabi Investment AuthorityAdiaBerhyandaBerhyanda MidcoCompetition Commission Of IndiaCciPlatinum PoppyReal EstatePrivate EquityReal Estate NewsJul 18, 2024
Platinum Poppy is a restricted scope company incorporated in the Abu Dhabi Global Market, established solely for the purpose of investing into Berhyanda and Berhyanda MidCo. Abu Dhabi Investment Authority (ADIA) is the ultimate beneficiary of Platinum Poppy. ADIA is a public institution established by the Government of the Emirate of Abu Dhabi as an independent investment institution. ADIA manages a global investment portfolio across more than two dozen asset classes and sub-categories, including developed equities, emerging market equities, small cap equities, government bonds, credit, fixed income, real estate, infrastructure, private equity, cash, and alternatives. In India, ADIA has made sector-agnostic investments and has previously invested in various sectors such as real estate, financial services, insurance, pharmaceuticals, and agrochemicals.
Berhyanda and Berhyanda MidCo are wholly owned by funds managed by Advent International, L.P. Both entities are investment holding companies. Suven Pharmaceuticals Limited is a public listed company incorporated in India and is listed on BSE Limited and National Stock Exchange Limited. Suven was incorporated in 2018 and is engaged in the manufacture and sale of active pharmaceutical ingredients and intermediates in India, and provision of contract development and manufacturing for intermediates in India.
A detailed order of the CCI will be released soon.
Frequently Asked Questions
What is the nature of Platinum Poppy's acquisition of Berhyanda and Berhyanda MidCo shares?
The acquisition involves the acquisition of ordinary shares and extension of shareholder debt to Berhyanda and Berhyanda MidCo by Platinum Poppy.
What is Abu Dhabi Investment Authority (ADIA)?
ADIA is a public institution established by the Government of the Emirate of Abu Dhabi as an independent investment institution.
What is the investment portfolio of ADIA?
ADIA manages a global investment portfolio across more than two dozen asset classes and sub-categories, including developed equities, emerging market equities, small cap equities, government bonds, credit, fixed income, real estate, infrastructure, private equity, cash, and alternatives.
What are Berhyanda and Berhyanda MidCo?
Both entities are investment holding companies, wholly owned by funds managed by Advent International, L.P.
What is Suven Pharmaceuticals Limited engaged in?
Suven is engaged in the manufacture and sale of active pharmaceutical ingredients and intermediates in India, and provision of contract development and manufacturing for intermediates in India.
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