Cipla gets CCI nod to sell 26% in consumer healthcare business
In November last year, the company signed an agreement to sell 26.11% in Cipla Health to FIL Capital Investments (Mauritius) II Limited.
Drug major Cipla has received approval from fair trade regulator CCI to sell about 26$ stake in its consumer healthcare business to Mauritius-based FIL Capital Investments.
In November last year, the company signed an agreement to sell 26.11% in Cipla Health to FIL Capital Investments (Mauritius) II Limited.
However, the financial details of the deal were not disclosed.
In a tweet on Thursday, the Competition Commission of India (CCI) said that it "approves acquisition of 26.11% stake in Cipla Health Ltd by FIL Capital Investments (Mauritius) II Ltd".
Through the consumer healthcare business, Cipla has entered the over-the-counter (OTC) healthcare market in India.
In July last year, Cipla's board had approved an investment by Fidelity Growth Partners India and US-based Fidelity Biosciences, through FIL Capital Investments (Mauritius) II or its affiliates in the consumer healthcare business.