intas Pharmaceuticals: CCI clears Abu Dhabi Investment Authority’s minority stake purchase in Intas Pharmaceuticals

India’s antitrust regulator, the Competition Commission (CCI) on Monday approved a minority stake acquired by Platinum Owl Intas Pharmaceuticals. The proposed transaction involves the secondary acquisition of a 3% stake in the company by Platinum Owl Admission (based on outstanding shares).

Platinum Owl acts as a trustee Platinum Jasmine 2018 Trust and Abu Dhabi Investment Authority (goodbye) is the sole beneficiary and settlor of the Platinum Jasmine A 2018 Trust.

Intas is engaged in the development, manufacture and marketing of pharmaceutical formulations.

In separate portfolio, CCI approves acquisition of 100% equity and mandatory convertible bonds in five special purpose vehicles (SPVs) Infravit Allocate units of IndInfravit to CPHI-4 to partially fund the acquisition of SPV.

The five SPVs operate and maintain highways in various US states. Andhra Pradesh, Uttar Pradesh, Bihar and Maharashtra.

Transactions above a certain threshold require approval from regulators, who keep a close eye on unfair business practices in the market.

IndInfravit is a registered infrastructure investment trust and CPHI-4 (CPP Investment Board Private Holdings (4) Inc) is an investment holding company investing in a diversified portfolio of assets.