The Competition Commission of India (CCI) approves acquisition by GlaxoSmithKline Consumer Healthcare Overseas Limited and GlaxoSmithKline Consumer Healthcare UK Trading Limited (Acquirers) of shareholding in GSK Asia Private Limited (Target) under Section 31(1) of the Competition Act, 2002.
The Proposed Combination involves the collective acquisition of 100% shares of the Target by the Acquirers. Further, prior to the proposed combination, 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 Limited.
GSK Consumer Healthcare Overseas Limited is a wholly-owned subsidiary of GlaxoSmithKline Consumer Healthcare Holdings (No.2) Limited (“GSK CH HoldCo”). It is a part of the overall GlaxoSmithKline (GSK) group and its principal activity is to act as an investment holding company for GSK CH HoldCo and its subsidiaries.
GlaxoSmithKline Consumer Healthcare UK Trading Limited is a part of the overall GSK group and is a wholly-owned subsidiary of GSK CH HoldCo. It 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.
Detailed order of the CCI will follow.
Disclaimer : This is an official press release by PIB.