The Competition Commission of India (CCI) announced on Monday the takeover of Parexel International Corporation by Phoenix Parentco Inc.
Headquartered in the United States, Paraxel provides biopharmaceutical outsourcing services to biopharmaceutical companies.
According to a notice filed with the regulator, the proposed transaction involves the acquisition of 100 percent of the shares in Parexel International.
“The Commission clears the acquisition of Parexel International Corporation by Phoenix Parentco, Inc,” the watchdog said in a tweet on Monday.
Phoenix Parentco is a special purpose vehicle that operates exclusively as an investment holding company. It is jointly controlled by EQT Fund Management S. rl and The Goldman Sachs Group Inc.
(Only the headline and image of this report may have been revised by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)
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