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Abu Dhabi Investment Authority gets indirect stake in Suven Pharmaceuticals, following India's nod

( July 18, 2024, 23:27 GMT | Official Statement) -- MLex Summary: The Abu Dhabi Investment Authority, a sovereign wealth fund, has secured an indirect non-voting economic interest in Suven Pharmaceuticals, following approval from India's antitrust watchdog. The Competition Commission of India approved the acquisition of ordinary shares in Berhyanda and Berhyanda MidCo by Platinum Poppy C 2024 RSC, a company solely established by ADIA for this investment, according to a statement issued by the commission on Thursday. Since Berhyanda currently holds a controlling 50.1 percent stake in Suven Pharmaceuticals, a listed Indian manufacturer of active pharmaceutical ingredients and intermediates, CCI's approval grants ADIA an indirect foothold in the Indian pharmaceutical industry. The CCI said that a detailed order will follow.Statement from the Competition Commission of India follows:...

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