Latest News | Competition Comm Clears Ipca Laboratories-Unichem Laboraties Deal

New Delhi, Jul 27 (PTI) Competition Commission on Thursday said it has approved Ipca Laboratories' proposed 59.38 per cent stake purchase in Unichem Laboratories.

The proposed deal involves the company buying 33.38 per cent shareholding in Unichem Laboratories pursuant to a share purchase agreement.

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Further, Ipca Laboratories has to make an open offer to buy an additional 26 per cent stake in listed Unichem Laboratories under Sebi norms.

In a release, the Competition Commission of India (CCI) said the Ipca Laboratories will acquire up to 59.38 per cent stake in the target company.

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The deal has been cleared by the regulator, as per the release.

Deals beyond a certain threshold require the approval of CCI, which keeps a tab on unfair business practices in the marketplace.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)