The Competition Commission of India has approved the proposed acquisition of certain shareholding of Schott Poonawalla Private Limited by TPG Scion SG Pte. Ltd.

The proposed combination involves the acquisition by TPG Scion SG Pte. Ltd. of certain shareholding in SPPL by way of a secondary purchase from Serum Institute of India Private Limited. (Proposed Combination).

The TPG Scion SG Pte. Ltd. (TPG Scion/Acquirer), is a newly incorporated special purpose investment vehicle incorporated in Singapore on 11^th October 2024 for the purposes of the Proposed Combination. Currently it does not have any operations in India. TPG Scion is an affiliate of the TPG Group, which is a global, diversified investment firm founded in 1992. TPG Scion is ultimately managed and controlled by an entity, which is advised by the affiliates of TPG Inc. (TPG), the ultimate holding company of the TPG Group. TPG, including its subsidiaries and affiliates, are together referred to as “TPG Group”.

Schott Poonawalla Private Limited (SPPL/Target) is  engaged in the business of developing, manufacturing and selling, sterile or non-sterile glass containers such as ampoules, vials, cartridges or syringes for primary pharmaceutical packaging and their ancillary components by converting tubular glass into ampoules, vials, cartridge and prefilled syringes or otherwise.

Detailed order of the Commission will follow.

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