Competition Commission of India (CCI) said on Monday it has cleared the acquisition of stake in GlaxoSmithKline Asia Pvt. Ltd. (GSKAPL ) by GlaxoSmithKline Consumer Healthcare Overseas Ltd. and GlaxoSmithKline Consumer Healthcare UK Trading Ltd.
The deal involves collective acquisition of 100% of the shares in GSKAPL by the acquirers. Prior to the transaction, GSKAPL will acquire the trademarks pertaining to ‘Iodex’ and ‘Ostocalcium’ brands in India along with the legal, economic, commercial and marketing rights of such brands and other associated assets (GSK consumer brands) from GlaxoSmithKline Pharmaceuticals Ltd.
GlaxoSmithKline Consumer Healthcare Overseas Ltd. is a wholly-owned subsidiary of GlaxoSmithKline Consumer Healthcare Holdings (No.2) Ltd.
GlaxoSmithKline Consumer Healthcare UK Trading Ltd. is engaged in the distribution and sale of consumer healthcare products, manufacturing, marketing, providing management services to the consumer healthcare group and providing research and development services to other consumer healthcare companies within the GSK group.
GSKAPL is a consumer healthcare company that is engaged in the marketing and distribution of oral healthcare products under various brand names such as Sensodyne, Parodontax, Polident and over-the-counter medicines products under the brand names such as Crocin, ENO, CCI stated.
Source: Mint