New Delhi: The Competition Commission Tuesday said it has approved Zydus-Cadila’s deal to acquire Heinz India consumer wellness business that includes popular brands like Complan and Glucon D. Zydus Wellness jointly with Cadila Healthcare had signed definitive pacts to acquire Heinz India for Rs 4,595 crore that includes net working capital of Rs 40 crore, cash of Rs 15 crore and assumes no debt.
Heinz India is a subsidiary of the US-based Kraft Heinz. Cadila Healthcare holds majority stake in Zydus Wellness.
The CCI in a tweet said it “approves acquisition of businesses of Heinz related to four brands namely ‘Glucon-D’, ‘Nycil’, ‘Sampriti Ghee’ and ‘Complan’ by Zydus/Cadila”.
Besides, the regulator also gave its clearance to Royal Dutch Shell acquiring 26 per cent stake from France’s Total SA in Hazira LNG and Hazira Port, according to a series of tweets.
The CCI further said it “approves transaction leading to 100 per cent shareholding of Shell in Hazira LNG Private Limited and Hazira Port Private Limited”.
The deal pertains to Shell Gas BV, a subsidiary of Royal Dutch Shell, signing a pact with Total Gaz Electricit Holdings France to acquire its 26 per cent equity in the Hazira LNG and Port venture in India.
Hazira LNG and Port venture comprises two companies — Hazira LNG that operates an LNG regasification terminal in Gujarat and Hazira Port, which manages a direct berthing multi-cargo port at Hazira.
A deal beyond certain level requires approval of Competition Commission of India (CCI).
The development was reported by ETRetail.com